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Stupendous v-shaped recovery in 3 sessions, markets back to uncharted terrain: Angel Broking

Stupendous v-shaped recovery in 3 sessions, markets back to uncharted terrain: Angel Broking
Posted On:
Market Wrap-up by Mr. Ruchit Jain (Senior Analyst - Technical and Derivatives, Angel Broking):
Following the positive global cues, we started the day on a positive note, but immediately the indices corrected from the opening level within five minutes. However, traders took this dip as a buying opportunity and the index marched higher to register a high of over 14850 mark. It gave up some of the gains in the last hour, but still managed to end the day at 14790 with gains of almost a percent.
The bulls are in no mood to give up and our markets have overwhelmed traders and investors post the Union Budget. Nifty continues to clock new records and is now not far from creating a new history of 15000 mark. Now, Nifty is into uncharted terrain and in such scenarios, conventional trend lines and Fibonacci Ratios usually help us to see probable target/resistance zones. Co ....

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