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The Nifty has recently made higher bottoms at 14,416, 14,591, and 14,884 and continues to trade above the 20 and 50-day SMA, which gives further evidence of an uptrend

Nifty outlook
 

On the daily chart, the Nifty continues to hold above a rising trend line that has held the important lows of the last few months. This implies that the index remains in an intermediate uptrend. The Nifty has also recently made higher bottoms at 14,416, 14,591, and 14,884 and continues to trade above the 20 and 50-day SMA, which gives further evidence of an uptrend.

While we expect the Nifty to move higher and make new life highs in the coming sessions, we also remain open to short-term corrections and price consolidations. Crucial support is at 15,374.

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