Quote on Nifty : Bulls have taken control of the Indian equities market Says Rupak De, LKP Securities
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Below View on Bank Nifty 26 May 2023 By Rupak De, Senior Technical Analyst at LKP Securities
Bulls have taken control of the Indian equities market, as the Nifty has experienced a consolidation breakout on the daily chart. The rally has been supported by the strength in Reliance, ITC, and IT stocks. The Nifty has been sustaining above a critical moving average, indicating a strong position. The trend is expected to remain positive as long as the index sustains above the support level of 18400. On the higher end, there is a resistance level at 18700.
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