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Nifty

Nifty started the day below its 20 DEMA support zone of 19560 and kept falling, dropping below the anticipated support level of 19430.Although a late-hour recovery did assist it reduce its losses, it was unable to close above the 19430 level. With crucial boundariesat19540 & 19290, respectively, the candlestick pattern displays a "Spinning Top" formation signifying hesitancy. The final day of theweekwill be significant since any declines below 19290 would push the index much lower, approaching 19030. While a rally above19540oraweekly closing above 19430 would keep the bulls' hope of regaining lost ground alive. The oscillation range is still 19800–19450, with19630 serving as the midpoint. It is best to maintain a cautious approach and an appropriate hedge even on the final day of theweekbecause both of its trend strength indicators have been displaying symptoms of a trend that is weakening. As the patternpredicts, lookfor a breakthrough move on either side that would determine the trend even in the following week.

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