The very high energy (VHE) gamma ray spectral index of high energy peaked blazars correlates strongly with its corresponding redshift whereas no such correlation is observed in the X-ray or the GeV bands. We attribute this correlation to a result of photon-photon absorption of TeV photons with the extragalactic background light (EBL) and utilizing this, we compute the allowed flux range for the EBL, which is independent of previous estimates. The observed VHE spectrum of the sources in our sample can be well approximated by a power-law, and if the de-absorbed spectrum is also assumed to be a power law, then we show that the spectral shape of EBL will be $epsilon n(epsilon) sim k log(frac{epsilon}{epsilon_p}) $. We estimate the range of values for the parameters defining the EBL spectrum, $k$ and $epsilon_p$, such that the correlation of the intrinsic VHE spectrum with redshift is nullified. The estimated EBL depends only on the observed correlation and the assumption of a power law source spectrum. Specifically, it does not depend on the spectral modeling or radiative mechanism of the sources, nor does it depend on any theoretical shape of the EBL spectrum obtained through cosmological calculations. The estimated EBL spectrum is consistent with the upper and lower limits imposed by different observations. Moreover, it also agrees closely with the theoretical estimates obtained through cosmological evolution models.
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