Quote on Nifty from Rupak De, Senior Technical Analyst at LKP Securities

2025-03-26 04:07:11 pm | Source: LKP securities Ltd

Quote on Nifty from Rupak De, Senior Technical Analyst at LKP Securities

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Below the Quote on Nifty from Rupak De, Senior Technical Analyst at LKP Securities

"The Nifty has extended its correction as it has fallen below the support level of 23,600, leading to a decline towards 23,400. On the smaller time frame, the index has dropped below the near-term moving average. The trend looks bearish, with a negative crossover in the RSI (14) on the hourly time frame. On the lower end, support is placed at 23,300, up to which the current decline might extend. However, any fall below 23,300 might raise questions about the recent sharp rally from 21,964. Resistance is placed at 23,550, above which sentiment might improve."

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Quote on Nifty from Rupak De, Senior Technical Analyst at LKP Securities

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