Quote on Nifty : The Nifty index displayed volatility throughout the trading session Says Rupak De, LKP Securities
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Below View on Nifty 14 August 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The Nifty index displayed volatility throughout the trading session, before ending the day with minimal change. On the daily chart, it's evident that the index received support at the 50EMA, leading to a notable intraday rebound. However, the RSI on the daily chart demonstrated a bearish crossover, with its value dropping below 50. This could be indicative of a weakening trend. If the index falls below the 19250 mark, it might incite a corrective movement towards the 19100-19150 range in the near future. Conversely, resistance can be identified at the 19550 level on the higher side.
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