Quote on Nifty : On the daily chart, the index has been falling within a downward-sloping channel Says Rupak De, LKP Securities
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Below View on Nifty 10 March 2023 By Rupak De, Senior Technical Analyst at LKP Securities
On the daily chart, the index has been falling within a downward-sloping channel, which again confirms the bearish trend. The 14-day moving average and the 50-day moving average, are in the bearish crossover, with the index value remaining below both averages. On the lower end, the Nifty may roll down towards the lower band of the falling channel. The sentiment remains bearish, and the market will remain in sell-to-rise mode until Nitfy closes below 17850. On the lower end, supports are placed at 16950 / 16750.
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