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Om Mehra, SAMCO Securities, notes that Nifty's daily chart shows a bullish hammer pattern, hinting at a trend reversal. After consolidating around 23,15023,200, the index seems poised for an upward move. Positive RSI divergence and a narrowing MACD histogram indicate reduced bearish pressure, supporting potential consolidation or a minor pullback before further gains.
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Gold prices remained flat at Rs 82,000 per 10 grams in the national capital on Monday, according to the All India Sarafa Association. Traders waited for US President-elect Donald Trump's inaugural address later on Monday before placing any directional bets, marketmen said.
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Tech firm Newgen Software Technologies on Monday posted a 30.8 per cent year-on-year increase in consolidated net profit to Rs 89 crore for the December quarter.
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