Summary :
Last week, the Index saw a rise of 0.8%. In the past 14 trading sessions, it has been trading within the range of 19250 to 19500, with support being observed at 50 EMA. However, for the bulls to gain control, the Index must break above 19500. If it falls below 19250, further weakness can be expected. In terms of sectors, the Nifty IT sector is on the verge of a breakout and looks promising in the near future. On the other hand, selling pressure has been observed in the Pharma and FMCG sectors.
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