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Indian markets declined for the eighth straight session on Feb 14, with the Sensex dropping 199 points to 75,939 and Nifty falling 102 points to 22,929. While Nifty rebounded slightly after touching its January 27th low, its chart remains weak, trading below key moving averages. The 40-hour exponential moving average (HEMA) at 23,135 serves as strong resistance, keeping bears in control unless a breakout occurs. On the downside, the 22,775–22,620 zone is a crucial support level. Persistent FII selling, weak Q3 earnings, and U.S. trade war fears...
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