Nifty has been in a downtrend for the past few months due to a variety of factors like FII Selling, Geopolitical Tensions etc. So even though overall trend looks negative.
As the problems looks to ease across the globe. Nifty50 has rallied from the bottom and is looking to breakout. This is the only hope for bulls to stay dalal Street and the market to gain some bullishness in the near term. If not bears would be back in the market will undergo correction and continue in the overall downtrend.
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