The emerging trend clearly suggests that the dips seen last week held the support zone, and the gap-down opening was covered, ensuring prices traded above the range that developed in the last few days. Hence, one should track the ongoing trends, as the upmove needs to continue above 24300 (Nifty Spot) to renew the bullish bias. Moments on hourly charts indicate that prices, after settling down, seem to have resumed selling pressure. With the gradual, hesitant rise emerging from lower levels, we can expect it to remain hesitant.
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