Quote on Bank Nifty : This possibility becomes more significant if the mentioned support level holds Says Kunal Shah, LKP Securities

17/08/2023 4:56:41 PM | Source: LKP Securities Ltd

Quote on Bank Nifty : This possibility becomes more significant if the mentioned support level holds Says Kunal Shah, LKP Securities

News By Tags | #2730 #4907 #2951 #879 #1014 #59

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."

bove views are of the author and not of the website kindly read disclaimer

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here

IGI Logo

Quote on Bank Nifty : This possibility becomes more significant if the mentioned support level holds Says Kunal Shah, LKP Securities

Top News

Tag News

More News