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Street signs: Nifty clings to 24K lifeline, bumper listing eyed for Waaree

Notwithstanding market selloff, shares of solar panel maker Waaree Energies are expected to soar close to 90 per cent during their trading debut on Monday

Equity markets around the world continue to be on a tear. The MSCI Global Equity Index is close to its lifetime highs, up a staggering 30 per cent over the last year. But it is not just equities; all asset classes have thrived in recent months.
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Market Mayday: Nifty clings to 24K lifeline
 
The benchmark National Stock Exchange Nifty 50 has shed nearly 2,100 points, or 8.6 per cent, from its peak, closing last at 24,181. Technical analysts assert that the trend has shifted from buy-the-dip to sell-on-rally, with 24,000 identified as a crucial support level. “A decisive break below 24,000 could deteriorate the outlook. If a rebound occurs, 24,500 will now act as a strong resistance level. Traders should adopt a sell-on-rise strategy, as most sectors and broader indices remain under pressure,” said Ajit Mishra, senior vice-president of research at Religare Broking. Vinay Rajani, senior

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