Nifty50 shows signs of reversal as Reliance and HDFC Bank signal potential gains

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The Nifty50 index has shown signs of a potential reversal after a significant correction, marking its first double-digit drop in four years. Reliance Industries has faced a 24% decline, while HDFC Bank has remained resilient, reaching an all-time high. Reliance's recent chart patterns suggest a possible trend reversal, supported by bullish signals. If it stays above the 1,200 level, it may present a low-risk opportunity for investors. HDFC Bank has broken out of a consolidation phase, indicating potential for further gains. If it holds above the 1,800 level, it could lead to a strong upward movement. Both stocks may drive the Nifty50's next upswing.


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Nifty50 shows signs of reversal as Reliance and HDFC Bank signal potential gains | News Minimalist