Quote on Nifty : Nifty might continue its upward journey till it holds above 18000 on a closing basis Says Rupak De, LKP Securities
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Below View on Bank Nifty 28 April 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The benchmark Nifty has moved deeper into the gains as the bulls took the index above 18000, following a "Head and Shoulder" pattern on the daily timeframe. The current rally was well predicted by the writers, as they had a decent short PE position at the 17800 strike price. On the higher end, less significant short CE built up at the higher strike prices was visible. On the higher end, Nifty might continue its upward journey till it holds above 18000 on a closing basis. Resistance on the higher end is placed at 18200, above which a further rally might come.
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