Quote On Nifty and Bank NIfty : The index has managed to sustain above 50 EMA on the daily chart Says Rupak De, LKP Securities
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Below View on Nifty and Bank NIfty 08 October 2022 By Rupak De, Senior Technical Analyst at LKP Securities
"The benchmark Nifty remained volatile before closing on a muted note. However, the index has closed above 50 EMA, confirming the ongoing positive trend. Going forward, the trend is expected to remain positive as long as the Nifty sustains above 17300. On the higher end, the 17600-17700 zone may act as resistance, whereas, on the lower end, support is visible at 17200."
"The Bank Nifty remained volatile throughout the day. However, the index has managed to sustain above 50 EMA on the daily chart. The RSI is entering a bullish crossover. Over the short term, the index may move towards 40000. On the lower end, support is visible at 38500."
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