Quote on Nifty : Nifty has formed a bearish engulfing pattern on the daily chart Says Rupak De, LKP Securities
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Below View on Bank Nifty 09 March 2023 By Rupak De, Senior Technical Analyst at LKP Securities
Nifty has formed a bearish engulfing pattern on the daily chart, which suggests a bearish reversal. Besides, the index has slipped back into the declining channel; however, on the lower end, it found support at the 14DMA. The trend is likely to remain bearish until it remains below 17700. On the lower end, the bears may take the Nifty to 17500/ 17400.
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