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After taking strong support at 16,800 levels in March 2023, the Nifty 50 turned up sharply and sustained near its lifetime highs indicating a strong positive undertone of the Index.

On the weekly charts, the index has been forming a Rising Wedge price pattern since March 2023.

On the Daily Time frame, the Index can be spotted forming Higher Highs and Higher Lows on a swing basis, confirming the uptrend's presence.

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