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Private banks have ended up being the top gainers and leaders of this rally in the last 2 weeks.
Along with that, all the questions to some fund houses who were concentrating into Pvt Banks will now be reversed by the same people who were questioning.
But all of this is only possible in hindsight
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Usually when an index lines up like this with multiple resistances being tested already, either we see a steep fall on the next hit or a breakout rally
With the current valuations, a steep fall seems questionable, a rally, maybe?
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Usually when an index lines up like this with multiple resistances being tested already, either we see a steep fall on the next hit or a breakout rally
With the current valuations, a steep fall seems questionable, a rally, maybe?
Nifty IT taking strong pullback here from the long term resistance.
A resistance, tested for the third time, only weakens, doesnt strengthen, especially provided the global scenario.
In the last 2 scenarios of this technical indicator, teh recovery has never been this fast, this quick, and v shaped, it is now.
good until we are above 200DMA.