Quote on Bank Nifty : The index as long as does not surpass the level of 40000 remains ina sell on rise mode Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 24 March 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
"The Bank Nifty bears took over the control on the last day of the week and the index ended on a negative note. The index as long as does not surpass the level of 40000 remains ina sell on rise mode. The immediate support on the downside is at 39000 and a breach below this will lead to a sharp decline. The momentum indicator RSI trading in the bearish zone confirms the weakness in the index."
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