“Nifty is trading near the 50-day SMA (Simple Moving Average). For the traders now, the 50-day SMA or 19625 would act as a trend decider level. Above the same, we could see a technical bounce back till 19700-19735 levels. On the flip side, below 19625 the index could retest the level of 19520-19480,” said Shrikant Chouhan, Head of Research (Retail) at Kotak Securities.
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