Technical indicators suggest the rally may have further room to run. According to Mehul Kothari, DVP, technical research at Anand Rathi Share & Stock Brokers, the 5.9% surge in the Nifty 50 appears to be more than just a short-term rebound. The index has broken above the crucial 23,100–23,400 resistance zone and is now holding near the 24,000 level.
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