Quote on Nifty : The Nifty index experienced a strong resurgence of bullish momentum Says Kunal Shah, LKP Securities
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Below View on Nifty 09 August 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
The Nifty index experienced a strong resurgence of bullish momentum, resulting in a sharp recovery from its previous lower levels.
At present, the index is positioned in close proximity to a critical resistance zone at 19640, which aligns with its 20-day moving average (20DMA).A conclusive break above the 19700 level, especially on a closing basis, would not only signify a reversal of the recent downtrend but also potentially open the path for further upward movement, with an eye towards the 20000 mark.
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