Nifty staged a strong comeback this week, surging past the 200-day moving average and trapping bearish sellers. The index found support at its 50-week moving average, forming a bullish hammer pattern. While facing resistance at 24,000, positive sentiment prevails with increased FPI long positions and declining open interest. A sustained move above 24,000 could propel Nifty towards 24,500–24,700.
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