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Nykaa has seen a strong breakout after several weeks of consolidation. The stock has seen a formation of long bullish candlestick pattern on the daily charts with healthy volumes.
A move above 21,800 can lead to a short-covering move towards 22,000 and 22,200 levels on the Nifty 50.
Pawan Bharaddia believes that the next 4-5 years should see disproportionate wealth being created in the markets and if that happens, index numbers will only keep showing newer highs.
For the market, some of the key indicators to watch out for over the next few weeks are Q3 earnings and any escalation of Russia- Ukraine war and the West Asia crisis, says Manjit Singh
After recent consolidation, Suzlon Energy picked up the momentum and has formed bullish candlestick pattern with long lower shadow on the daily charts, indicating buying interest at lower levels.