Quote on Nifty : During the week, the Nifty closed above the 14DMA Says Rupak De, LKP Securities
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Below View on Bank Nifty 10 February 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The index remained volatile within a small range as the benchmark index remained within the bands of 17650 and 17950. During the week, the Nifty closed above the 14DMA, suggesting a near-term bullish trend. Besides, the index ended the week above 17800, which again points towards a strong weekly close. The momentum indicator RSI is in bullish crossover and rising. On the higher end, resistance is visible at 17950-18000; a sustained basis breakout above 18000 may open the gate for 18350-18400. On the other hand, failure to move beyond 18000 may attract selling pressure in the market.
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