Nifty reclaims 11,000: Does this rally have more legs?
Updated : August 27, 2019 01:16 PM IST
Nifty is still down over 8 percent from its record high of 12,103 registered back in June, and a slew of measures introduced by the government could keep the momentum going on D-Street for some more time, say experts.
The surplus funds from the central bank make the fiscal deficit target more realistic and have opened room for a stimulus package that traders would be eyeing in the near term.
In terms of technicals, after testing the recent low of 10,637 last week, Nifty bounced back to reclaim 11,000 on August 26. The next logical target is placed above 11,500.
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