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NIFTY Index Chart Analysis

NIFTY Index Chart Analysis

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The stock market is hesitant to move on either side since there have been no significant triggers during the last two weeks. The Nifty is still trading between the broad 1,150 point range of 15,431-14,265 since February 16. And the consolidation has been further confined to 14,880-14,460 for the last couple of weeks, barring one or two days. The 14,880 levels have become a Herculean task for Nifty to cross. Since February 16, the average true range (ATR) increased to a maximum level when it reached the lifetime high. The daily ranges have been bigger in the recent past. For several times, the Nifty traded more than the average range. Historically, barring the March 2020 period, the ATR crossed above the 200 level only on a few occasions.   

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NMDC surges over 3 per cent post hiking iron ore prices

Ganesh V / Article rating: 4.5

NMDC today announced a hike in the prices of iron ore. The prices of lump ore (65.5 per cent, 6-40 mm) increased 18.80 per cent to Rs 6,950 per tonne as of April 14, 2021, compared with Rs 5,850 per tonne as of April 3, 2021. The prices of iron ore fines (64 per cent, -10 mm) jumped 10.96 per cent to Rs 5,060 per tonne as of April 14, 2021, as against Rs 4,560 per tonne as of April 3, 2021.

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