Quote on Nifty : The Nifty index traded within a tight range of 18345 and 18229 throughout the day Says Rupak De, LKP Securities
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Below View on Bank Nifty 09 May 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The Nifty index traded within a tight range of 18345 and 18229 throughout the day, showing a lack of strong directional momentum. However, the index remained above critical moving averages, which could indicate underlying strength in the market. Additionally, the Relative Strength Index (RSI) showed a positive crossover, suggesting bullish momentum.
Overall, the outlook for the Nifty index remains positive, with technical indicators signaling potential for further upside. The sentiment remains positive until it falls below 18200 decisively.
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