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The market rebounded sharply on the first day of the week with the benchmark indices rising 1.4 percent on the back of short-covering in quality beaten-down stocks and positive global cues.

In fact, the indices recouped all their previous day's losses. The BSE Sensex rallied nearly 850 points to 60,747, while the Nifty50 jumped more than 240 points to 18,101 and formed long bullish candle on the daily charts with making higher high higher low formation.

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