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Godfrey Phillips India continued uptrend for fifth consecutive session. Also, it has seen V-shape recovery, with trading above all key moving averages (20, 50, 100 and 200-day EMA), which is a positive sign.
Swan Energy has formed long bullish candlestick pattern on the daily scale with above average volumes. The 20-day EMA has been acting as a good support for the stock for several sessions now.
A short build-up was seen in 71 stocks, including Astral, Indraprastha Gas, Dr Lal PathLabs, Ipca Laboratories and Oracle Financial
Options data indicated that 19,600-19,500 will act as a support area for the Nifty50, while the 19,700-19,800 would be resistance on the higher side
It is formed at the bottom of a downtrend.