Quote on Nifty : The Nifty above the long-term average of 200 Says Rupak De, LKP Securities
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Below View on Bank Nifty 21 April 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The Nifty continues to witness a time correction as the benchmark index remained mostly range-bound before closing flat. After correcting from the recent high of 17863, Nifty has been consolidating around the 200-day moving average for the last three days. So far, the bulls have been able to hold the Nifty above the long-term average of 200 DMA, which is considered the line of polarity for long-term investment. A fall below 200 DMA, currently pegged at 17605, might trigger a panic button. Below 17600, the Nifty may slip towards 17400. On the higher end, a resistance is placed at 17700, above which the index may move towards 18000.
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