Quote On Nifty :The momentum indicator is in bearish crossover and falling Says Rupak De, LKP Securities
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Below View on Nifty 26 September 2022 By Rupak De, Senior Technical Analyst at LKP Securities
"Nifty remained volatile with a predominant negative bias throughout the day before ending 1.80% lower. The index fell below the previous consolidation low on the daily chart. However, it has found support at the long-term moving average, 200 DMA, which may act as the "line of polarity" for the short term. The momentum indicator is in bearish crossover and falling.
The trend for the short-term looks negative; however, further selling pressure may be seen only below 17950, where the 200 DMA is currently placed. On the higher end, immediate resistance is visible at 17300-17350."
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