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NIFTY Index Chart Analysis

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The Nifty has come out of the May 23 range and closed at a new life-time high. The BSE Sensex also closed record high above the 40,000 level on Monday. As there is no significant weakness visible in any time frame, one should follow the price as the trend continues to be bullish. Nifty formed a flat base in the range of 11830-12041 for the past 7 days. The auto, metal and FMCG sectors led the market to new highs. 

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