Quote on Bank Nifty : This breakout was accompanied by a notable increase in trading volumes Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 07 September 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
"The Bank Nifty index has recently experienced a fresh breakout on the daily chart. This breakout was accompanied by a notable increase in trading volumes.TA robust support level has formed at 44500, which also coincides with the index's 20-day moving average (20DMA). This level is expected to provide significant support to the index.The index successfully closed above the previous day's high, establishing a bullish undertone for the near term.The Bank Nifty index has the potential to reach upside targets in the range of 45200 to 45500."
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