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Quote on Nifty : The Nifty has recently experienced a positive breakout from a sideways pattern Says Rupak De, LKP Securities
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Below View on Bank Nifty 07 June 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The Nifty has recently experienced a positive breakout from a sideways pattern, which is seen as a favorable development. This breakout comes just before the Reserve Bank of India (RBI) announces its rate decision tomorrow. Market participants are anticipating a dovish stance from the RBI governor, contributing to a positive sentiment in the market. Technically, support for the Nifty is positioned at 18650, while resistance is expected around the range of 18880-18900.
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