Technically, the Nifty appears to have regained its momentum, decisively breaking out from its consolidation zone of 24,500-25,000, said Nandish Shah, Senior Derivative & Technical Research Analyst, HDFC Securities. “Immediate resistance is now seen at 25,207, a level derived from the 76.4% Fibonacci retracement of the entire fall from 26,277 to 21,743. On the downside, 24,800 could offer immediate support for the Nifty.”
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