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Bears back to work after a brief pause
Other technical observations
On the hourly charts, the momentum indicator has turned negative and is trading below the zero line. The Nifty is trading below the 20-hourly simple moving average and the 40-hourly exponential moving average, ie 5687 and 5731 respectively, which are crucial levels in the immediate run. The market breadth is negative with 261 advances and 869 declines.
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