Nifty may register new all-time high once it conquers 12,050: HDFC Sec

Trading longs should have stoploss at 11,700 in Nifty

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Vinay Rajani Mumbai

2 min read Last Updated : Nov 04 2020 | 8:17 AM IST

Nifty outlook

Nifty has surpassed the crucial resistance of 11,750, which happened to be the previous three session’s high. BankNifty has been outperforming Nifty with a huge margin. BankNifty has reached at the highest level since March 11, 2020. Nifty is expected to move up with the upside target of 12,000-12,050. A close above 12,050 would brighten the chances for the new all-time high above 12,430 in Nifty. Trading longs should have stoploss at 11,700 in Nifty.

Stock recommendations

BUY BAJAJ FINANCE (Rs 3,484): | Target: Rs. 3,690 | Stop-loss: Rs 3,350

The stock seems to have resumed its primary up trend

Topics : Markets HDFC Securities Bajaj Finance LIC Housing Finance Nifty Outlook Market technicals

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