Quote on Nifty : The Nifty has been consolidating for the past few days, indicating indecisiveness Says Rupak De, LKP Securities
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Below View on Nifty 21 March 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The Nifty has been consolidating for the past few days, indicating indecisiveness. The trend remained negative for the short term as the index has been sustaining below the critical moving average on the daily chart. The RSI on the daily chart has narrowed down its bearish crossover. The trend is likely to remain sideways as long as it remains within the bands of 16950-17200. A decisive move above 17200 may induce a rally towards 17450-17500. While a decisive fall below 16950 may trigger a steeper correction in the market.
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