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“Coming to the intraday perspective, the kind of reversals which we have seen today from 21,400 on the futures and 21,300 on spot, the range for Nifty being 21300-21350 on the downside to 21500-21525 on the upside as far as spot levels are concerned. It would continue to consolidate within 250-300 points range till we get a breakout on the upside, about 21525.”
However, it's worth noting that this is different from a 5-year breakout, which occurs when a stock's price surpasses a key resistance level that has held for five years or longer.
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