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In recent weeks, the Nifty50 index showcased commendable strength, as evidenced by its ‘three white soldiers’ pattern, reaching a pinnacle with a new record high at 20,222. Yet, over the last two trading weeks, it’s closing below the previous week’s lows casts a shadow of negativity on the ongoing trend.
The index hovers around the 12-week EMA (exponential moving average), which may act as a potential support.
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The immediate floor for the index lies at 19,490…
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