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Quote on Bank Nifty : The momentum indicator is in bullish crossover Says Rupak De, LKP Securities
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Below View on Bank Nifty 22 March 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The Bank Nifty index has remained mostly sideways as the investors preferred waiting until after the Federal Reserve meeting on the rates and the follow-up commentary, which is more important. On the higher end, the index has found resistance at the 14DMA during the day's trade. The momentum indicator is in bullish crossover. A decisive breakout above 40000 may induce a rally in the index, above which the index may move up towards 40500/41000 over the near term. On the lower end, support lies at 39500.
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