Quote on Nifty : The Nifty, experienced an upward movement following a short period of consolidation Says Rupak De, LKP Securities
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Below View on Nifty 13 June 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The Nifty, experienced an upward movement following a short period of consolidation. This suggests that the market is gaining strength and the overall trend is positive. The index is currently maintaining a position above the critical moving average, which is a key level of support. Additionally, the Relative Strength Index (RSI) has indicated a bullish crossover, further indicating positive momentum in the market. For the Nifty, initial support is expected to be found at the level of 18,700, where significant Put writing has been observed. On the other hand, resistance levels are seen at 18,800/18900.
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