Weekly Outlook: Nifty eyes 25,550; but this chart pattern can derail rally

Quick Summary:

Market outlook for Sept 02 - 07, 2024: The Nifty seems favourably placed on the short-term chart; but formation of 'Hanging Man' pattern on the monthly chart may be a reason to worry going ahead.

In general, formation of a 'Hanging Pattern' after a rally tends to hint of a likely reversal.

The short-term bias is likely to remain upbeat as long as index holds above the psychological 25,000-mark.

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Category: BusinessFinance

Markets: India

Topics: How to trade sensex Stock market outlook Nifty 50 outlook Sensex prediction Nifty 50 Sensex nifty key levels Nifty 50 share price Nifty 50 chart Weekly outlook Gift nifty Trading strategies

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Article Type: News Report

Published On: 2024-09-02 @ 09:30:26 (11 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 477 words

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