Quote on Nifty : The bears continue to dominate the market, as the index was unable to surpass the level of 45000 Says Kunal Shah, LKP Securities
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Below View on Nifty 13 July 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
The bears continue to dominate the market, as the index was unable to surpass the level of 45000. This indicates a bearish sentiment in the index. On the other hand, the bulls managed to hold the support level of 44700, which suggests some buying interest at that level. However, a break below this support level may open the gates for further downside towards 44500-44000, which coincides with the 20-day moving average (20DMA). For the index to turn bullish, it needs to surpass the level of 45000 on a closing basis. This would indicate a potential shift in the market sentiment towards more bullishness.
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