Quote on Nifty : The Nifty index has broken out strongly from a falling wedge pattern Says Rupak De, LKP Securities
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Below View on Nifty 18 January 2023 By Rupak De, Senior Technical Analyst at LKP Securities
"The Nifty index has broken out strongly from a falling wedge pattern, which is a bullish reversal pattern. The bulls regained control and surpassed the 18,100 barrier, demonstrating strong momentum. The index remains in a buy-on-dip mode with support at 17,900, where fresh put writing has been witnessed. The index's next immediate resistance stands at 18,200, and a breach will see sharp short-term movement toward 18,500-18,600 levels."
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