Quote On Nifty : Bears continue to have the upper hand as the benchmark index Says Rupak De, LKP Securities
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Below View on Nifty 05 January 2023 By Rupak De, Senior Technical Analyst at LKP Securities
"Bears continue to have the upper hand as the benchmark index Nifty has been posting red candles for the last three days. The Nifty found support around the previous swing low on the daily timeframe. The momentum indicator RSI (14) is in bearish crossover, suggesting weak price momentum for the near term. Going forward, 17,770 is likely to act as support for the falling Nifty; a decisive fall below the said level may take the index towards 17,500. On the higher end, resistance is visible at 18,000, above which a recovery may come."
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