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Anshul Saigal of Saigal Capital suggests the market is consolidating after a strong rally. Fourth-quarter results exceeded expectations, leading to market gains. The Russia-Ukraine war's impact is now minimal, with markets largely desensitized. Peace efforts are underway. Saigal anticipates a range-bound market in the near term. Markets are expected to digest recent gains before the next move.
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Reliance Power shares: Reliance Power's recent gains follow its May 28 announcement that subsidiary Reliance NU Energies received a Letter of Award from SJVN for a 350 MW ISTS-connected solar project, along with a 175 MW/700 MWh battery storage system.
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Rajesh Palviya of Axis Securities sees potential Bank Nifty breakout above 55,800. This could lead to new highs, fueled by PSU bank accumulation. Nifty and Bank Nifty rollovers are high. A Nifty breakout above 24,900 could trigger a rally to 25,200. BSE, IndiGo, and Bharti Hexacom are strong. BSE could reach 2800-2900. IndiGo may hit new highs above 5400-5450.
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