Quote on Nifty: Nifty started lower following a global weakness, but the market was able to recoup the early losses by the end of the session Says Rupak De, LKP Securities
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Below Quote on Nifty 28 November 2022 By Rupak De, Senior Technical Analyst at LKP Securities
"Nifty started lower following a global weakness, but the market was able to recoup the early losses by the end of the session. On the daily chart, Nifty has averted a bearish reversal by failing a hanging man pattern formation. The momentum indicator RSI is in bullish crossover and rising, suggesting a rise in ongoing bullish momentum. The short term trend looks positive. On the lower end, support is placed at 18,400. On the higher end, resistance is placed at 18,616/18,800."
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