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Below the Quote on Nifty by Mr. Nilesh Jain, Head – Technical and Derivatives Research Analyst , Centrum Broking Ltd

"The markets stayed under pressure for the fourth straight session, with the Nifty continuing to form lower highs and lower lows on the daily chart. It closed marginally below its 50-day moving average, placed around 25,820, which is expected to act as an immediate resistance, followed by the 26,000 level. Overall market breadth showed slight improvement, as the broader indices outperformed the benchmarks. Given the recent correction and the Nifty testing its key support near 25,700, there is a possibility of a pullback. On the upside, a sustained move above the short-term 21-day moving average at 26,000 would be critical to initiate such a recovery."

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