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Quote on Nifty : On the higher end, 17800 is likely to remain resistance for the Nifty Says Rupak De, LKP Securities
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Below View on Bank Nifty 17 April 2023 By Rupak De, Senior Technical Analyst at LKP Securities
Nifty remained under the bears' grip as the benchmark slipped following a hanging man pattern formation in the previous session. Besides, the recent rally found resistance around the 50% retracement level of the previous fall before closing with a bearish engulfing pattern. Over the near term, the trend is likely to remain sideways, as after a rally of 900 points, buyers at 17000 would want to take some profits. On the lower end, support lies at 17550, below which the index may fall towards 17400. On the higher end, 17800 is likely to remain resistance for the Nifty.
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