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.
Above views are of the author and not of the website kindly read disclaimer
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