Quote on Bank Nifty : The index will witness large moves once it breaks out of the mentioned range Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 24 February 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
"The BANKNIFTY index is stuck in a broad range between 39500 and 40500 however the undertone remains bearish and one should keep a sell-on-rise approach. The index has been trading in a downtrend with lower high and lower low formation intact. The index will witness large moves once it breaks out of the mentioned range. The momentum indicator RSI is trading below the level of 30 which confirms the weakness."
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