Nifty staged a smart rally after the favorable action on the part of RBI. It has very slightly closed above the falling trend line. Last time it breached the trend line but failed to close above it. So if we sustain above this falling trend line for a couple of days, then we might see extended move in upward direction. If we get resisted at this trend line again then we are sure to see levels around 5100 - 5040 again. We have to wait and watch what happens now.
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