Commenting on the current market situation, Amar Ambani, Head of Research, IIFL, said, “After gaining strength in the past six days, it is important for the Nifty to scale past the peak of 8,180. However, If Nifty fails to sustain above its 50-DMA, the recent momentum could hit a temporary break. Since overall short term trend continues to remain bullish, any dip or consolidation towards earlier breakout level could be used for making fresh entry.”
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