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Nifty may soon surpass 11,270 in the coming days: Vinay Rajani of HDFC Sec

Nifty is continuing its uptrend and looks set to achieve 76.4% retracement of the entire fall seen from 12,430 to 7,511.

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There is a small hurdle of 200 days SMA, placed at 10886 but the setup of momentum indicators suggest that Nifty would surpass it

Vinay Rajani Mumbai

2 min read Last Updated : Jul 08 2020 | 8:14 AM IST

Nifty is continuing its uptrend and looks all set to achieve the target of 11,270, which happens to be the 76.4% retracement of the entire fall seen from 12,430 to 7,511. There is a small hurdle of 200 days SMA, placed at 10,886 but the setup of momentum indicators suggest that Nifty would surpass the 200 DMA and will reach a target of 11,270 in the coming days. Trading longs can be held with the stoploss of 10,690.

BUY CHOLA FIN (213.75) | Target: Rs 230 | Stop-loss: Rs 207

The stock price has broken out from Flag pattern on the

Topics : Stock calls Trading strategies Nifty Outlook Markets Cholamandalam Investment and Finance Company Dabur India

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