Quote on Bank Nifty: The Bank Nifty witnessed selling pressure throughout the session Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 25 January 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
The Bank Nifty witnessed selling pressure throughout the session. On the daily chart, an upward consolidation was followed by a sharp correction, suggesting a rise in bearish bets in the space. Furthermore, the index has dropped below the 50-day exponential moving average, confirming the downward trend. On the lower end, immediate support is visible at 41500/40800. On the higher end, resistance is visible at 42000.
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