Quote on Nifty : Nifty showed limited movement as investors awaited the Federal Reserve`s rate decision Says Rupak De, LKP Securities
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Below View on Bank Nifty 26 July 2023 By Rupak De, Senior Technical Analyst at LKP Securities
Throughout the trading session, Nifty showed limited movement as investors awaited the Federal Reserve's rate decision. It found support at the 9EMA when on the lower end of the range. The daily chart indicated a downward consolidation breakout, suggesting potential downward momentum. The RSI confirmed this sentiment with a bearish crossover. Key support was identified at 19700, while resistance levels were observed at 19900/20000, providing crucial reference points for traders and investors.
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