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Nifty This Week: Technical Charts And More – Breakout Done, What’s Next?
The best buys get set up when prices do a retest of a range that has seen a breakout, writes CK Narayan.
07 Aug 2021, 09:24 AM IST
Well, it finally happened. The breakout to 16,000-plus Nifty 50 levels, that is. The issue was quite firm in many minds and it was more the traders who were in doubt because of the frequent forays that the Nifty kept making to lower levels over the past eight weeks. Nevertheless, the bulls proved to be resilient and managed to contain all attempts to force the market lower. Finally, we did stage a breakthrough even though there was n...
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