Home / Markets / Stock Market News / Nifty view and stock call by Vinay Rajani, HDFC Securities: Buy L&T, ONGC

Nifty view and stock call by Vinay Rajani, HDFC Securities: Buy L&T, ONGC

L&T is on the verge of breaking out from the symmetrical triangle pattern on the daily charts.

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Nifty has reached well above its 200-day simple moving average (SMA), placed at 10,865.

Vinay Rajani Mumbai

1 min read Last Updated : Jul 22 2020 | 8:15 AM IST

Nifty heading towards 11300 Target

Nifty has risen for the fourth session on the trot. The index has reached well above its 200-day simple moving average (SMA), placed at 10,865. Now, 200-day moving average (DMA) can act as a support for trading long positions. The Upward sloping trendline adjoining bottoms of Oct 2018(10,004), Aug 2019(10,637), and Sep 2019(10,670) projects the strong resistance around 11,300 in Nifty.

BUY L&T (Rs 939): | Target: Rs 1,000 | Stop loss: Rs 900

The stock price is on the verge of breaking out from the symmetrical triangle pattern on the daily charts. It remained in the narrow

Topics : stocks technical analysis technical analysis Market technicals Trading strategies

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