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We see the stars twinkling due to refraction because they are far away, of the order of millions and millins of km from the earth. There is flutcuating density difference in the medium in between the earth and the stars and hence refracted ray through this will constantly change its position and we have the feeling of twinkling.
But moon and other heavenly bodies like planets are relatively closer to us and there is no appreciable flutcuating density difference in the medium in between so that refracted ray through this will not change position and hence will not seem to twinkle like the stars.
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