Quote on Bank Nifty : This possibility becomes more significant if the mentioned support level holds Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 17 August 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
"The Bank Nifty index displayed resilience by maintaining the support level of 43600, which aligns with its 100-day moving average (100DMA). This support zone becomes crucial for adopting a buy-on-dip strategy.A key resistance level at 44200 awaits, and surpassing it could trigger short-covering and a potential move towards the 45000 level.The momentum indicator, RSI, entering the oversold region suggests a potential rebound. This possibility becomes more significant if the mentioned support level holds."
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