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Nifty 50 shows bullish trend as Bank Nifty eyes new highs

The Nifty 50 rebounded over 370 points, closing nearly one percent higher, forming a Bullish Piercing Line pattern, indicating a positive trend. Resistance is expected at the 24,300–24,500 zone, while support lies at 24,000 and 23,800. The Bank Nifty also shows potential to rise towards 52,500, with 51,700 as immediate support.

Nifty faces resistance at 24500 while Bank Nifty eyes 52600突破

The Nifty 50 has faced resistance near 24,500, coinciding with the 100-day EMA, closing at 24,467 after a 128-point rise. A decisive move above 24,500 could signal further gains, while support is seen at 24,100–24,000. Meanwhile, the Bank Nifty needs to hold above 52,300 and surpass 52,600 to target 53,000, with support at 51,700.
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