The 50-day SMA acted as support towards the end of the week. On a weekly basis, Nifty continues to make higher tops and higher bottoms, thereby ensuring that the current uptrend is still intact.
Markets are likely to be volatile with election results to be announced. It is important that supports at 10,599-10,489 are not broken for the uptrend to continue and sustain.
The Nifty can climb to recent highs of 10,941 if the immediate supports are not broken.
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Source: Moneycontrol
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