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The Nifty started the week on a positive note following three days of correction. It has broken out of a falling channel, closing above its Friday’s high, confirming the bullish trend.
A sustained trade above 10,750 can extend the upmove to 10,900-11,000 levels. On the downside, 10,600 is a crucial support, which also happens to be the gap zone that the index filled in Friday’s trade.
A trade below 10,600 can halt this bullish trend, dragging the index lower to 10,530-10,460 levels.
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