Quote on Nifty : The Nifty has recently experienced a bearish turn as it slipped Says Rupak De, LKP Securities
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Below View on Bank Nifty 17 May 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The Nifty has recently experienced a bearish turn as it slipped below the rising channel on the hourly chart, signaling a rise in bearish bets. This correction was somewhat expected, as the Nifty had undergone a significant rally without any substantial pullback. On the immediate basis, a post-correction pullback may take the Nifty back to 18300, where bears might be awaiting to re-enter the market. A rejection from the 18300 may trigger selling pressure once again. Immediate support is visible at 18100.
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