Quote on Nifty : The Nifty experienced a relatively stable trading session Says Rupak De, LKP Securities
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Below View on Bank Nifty 29 May 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The Nifty experienced a relatively stable trading session, after opening with an upside gap. However, it managed to break out of its consolidation phase, indicating a potential shift in market direction. There was an increase in call writing activity at the 18800 level, suggesting a resistance zone, while put writing was observed at the 18600 level, indicating a potential support zone in the near term. Furthermore, the 18500 level is expected to act as a significant support level for the index. These observations suggest that the market may remain within a defined range with a bullish undertone in the coming days.
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