The index displayed a strong bullish signal on the daily chart, forming a long candle with a small upper shadow. This suggests an attempt to break through the resistance level created by the downward gap on August 2nd, which was around 24,950-25,000. Furthermore, the significant downward gaps observed on August 2nd and 5th have been fully closed, around 24,950 and 24,680 respectively. Nagaraj Shetti of HDFC Securities views this as a positive development.
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