05-11-2023 05:04 PM | Source: LKP Securities Ltd
Quote on Nifty : The Nifty index has traded within a range of 18270 and 18389 Says Rupak De, LKP Securities
Below View on Bank Nifty 11 May 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The Nifty index has traded within a range of 18270 and 18389. During the day, it formed a bearish engulfing pattern, which typically indicates a potential reversal in the market trend.
Adding to the bearish sentiment, the RSI has entered a bearish crossover. In terms of key levels, support is seen at 18200, which may act as a initial level of protection. On the other hand, resistance is seen at 18400, indicating a level where selling pressure might increase.
Above views are of the author and not of the website kindly read disclaimer
Latest News
Quote on Budget Reaction by Akshay Mehrotra, Cofound...
Quote on Budget Reaction by Raj N, Founder at Zaggle
Quote on Budget Reaction by Gurjodhpal Singh, CEO, T...
Quote on Union Budget 2024-25 by Dr. Saloni Wagh, Di...
Union Budget FY25 Quote on Real Estate Sector by Pan...
India's private sector economy continues to expand i...
Quote on Union budget 24-25 by Mr. B.K. Bajaj, CEO, ...
`Indexation` from mutual funds has gone away: Edelwe...
Quote on Budget Reaction by Manish Jain, Director of...
Budget 2024 sets new precedent for prioritising job ...
Tag News
Weekly Market Analysis : Markets strengthened recovery and gained nearly 2% in the passing w...
Weekly market outlook : The market is eagerly awaiting data on inflation and industrial production to provide further guidance Says Vinod Nair, Geojit Financial Services
Nifty registers best week in 2 months after rising for 6 consecutive sessions
Market Quote : Benchmark Indices ended the week today just a few percentage away from record highs Says S Ranganathan, LKP securities