Home / Markets / News / Nifty forms Morning Star pattern, support shifted up to 11,783: HDFC Sec

Nifty forms Morning Star pattern, support shifted up to 11,783: HDFC Sec

The range of 12,000-12,050 is a strong resistance zone for the Nifty, which should be taken out on a closing basis to negate the bearish trend.

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Vinay Rajani Mumbai

2 min read Last Updated : Feb 05 2020 | 7:52 AM IST

Support for the Nifty shifted up to 11,783

Nifty recouped all the losses witnessed on the Budget day and closed on a strong wicket. The recovery from lower levels has resulted in to bullish “Morning Star” candlestick pattern on the daily charts. However, the range of 12,000-12,050 is a strong resistance zone for the Nifty, which should be taken out on a closing basis to negate the bearish trend. Nifty Support is now shifted upward to 11,783, the low registered on 4th Feb 2020.

BUY NAM-INDIA (359.5): | Target Rs. 399 | Stop-loss Rs 345

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Topics : Stock calls Stock Call Markets Markets Sensex Nifty Reliance Nippon Life AMC Max India

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