The Nifty has been in an uptrend for the last seven days, with not a single candle on the 1-hour time frame closing below its previous one. However, a rare hanging man candlestick was observed at the end of last week. Despite this, the Nifty broke the weekly high the following day and has not formed any candles on the daily time frame indicative of a trend reversal. It appears that the Nifty may be waiting to cross the 23,500 mark before beginning a downtrend, which is expected to fill the gap left on the chart.
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