Quote on Nifty : Nifty formed a hammer pattern on the daily chart, indicating a potential trend reversal Says Rupak De, LKP Securities
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Below View on Nifty 19 May 2023 By Rupak De, Senior Technical Analyst at LKP Securities
Nifty formed a hammer pattern on the daily chart, indicating a potential trend reversal. It found support at the 21EMA, resulting in a smart recovery from the day's low. Positive divergence was observed on the hourly RSI, suggesting a possible shift in momentum. Resistance on the higher end, is seen at 18300, while support is placed at 18050.
Above views are of the author and not of the website kindly read disclaimer
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