By Subash Gangadharan
Nifty remains in a short term downtrend and has been making lower tops and lower bottoms for the last few weeks. There has been a healthy bounce back seen in the last few sessions and Nifty is now trading just below the previous swing high of 22205.
A close above 22205 will reverse the current downtrend and set the Nifty to move higher and test its life highs of 22527. Most of the sectoral indices too are showing strength, which increases the probability of a breakout on the upside.
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