Quote on Nifty : The Nifty index has been firmly held by bears, indicating their strong control over the market Says Kunal Shah, LKP Securities
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Below View on Nifty 24 May 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
The Nifty index has been firmly held by bears, indicating their strong control over the market. The index is currently facing significant resistance at the level of 18400, which has proven to be a challenging barrier to overcome. The ongoing battle between bulls and bears has resulted in the index trading within a consolidated range between 18200 and 18400 levels. However, a break above or below this range has the potential to trigger trending directional moves in the market. Traders and investors should closely monitor the index for a potential breakout or breakdown, as it may indicate a shift in market sentiment and the beginning of a new trend.
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