Quote on Nifty : The Nifty sustained below the 50 EMA on the daily timeframe Says Rupak De, LKP Securities
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Below View on Nifty 13 January 2023 By Rupak De, Senior Technical Analyst at LKP Securities
On the weekly chart, the index has formed a doji-like pattern, which signifies indecision. However, the Nifty sustained below the 50 EMA on the daily timeframe, confirming an ongoing bearish trend. The resistance is visible at 18,300, whereas on the lower end, support is visible at 17,800. Any breakout in either direction would create a directional trend in the market.
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