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Quote on Bank Nifty : On the lower end, the index neared the lower band of the falling channel Says Rupak De, LKP Securities
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Below View on Bank Nifty 14 March 2023 By Rupak De, Senior Technical Analyst at LKP Securities
Market bears continued to hold control as the Nifty slipped further, registering its fourth straight day of decline. On the lower end, the index neared the lower band of the falling channel. For the last four days, Nifty has been pricing in the US banking crisis and an impending rate hike of 25–50 basis points. Going forward, 16950 will likely act as crucial support for the index. Only a breakdown below 16950 may trigger further correction. On the higher end, resistance is visible at 17150-17200.
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