Quote on Nifty : The Nifty displayed strength, primarily driven by strong demand for large-cap stocks Says Rupak De, LKP Securities
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Below Quote on Nifty 08 September 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The Nifty displayed strength, primarily driven by strong demand for large-cap stocks. The overall trend remained robust as the index consistently stayed above a critical moving average. However, a significant hurdle for the Nifty came in the form of substantial Call writing at the 19900 strike price. Looking ahead, only a decisive move above the 19900 level has the potential to propel the index towards the 20200 mark. On the flip side, there was substantial Put writing at the 19700 level, providing strong support for the Nifty.
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