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Quote on Nifty : Throughout the day, the Nifty index exhibited a distinct lack of movement Says Rupak De, LKP Securities
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Below Quote on Nifty 22 August 2023 By Rupak De, Senior Technical Analyst at LKP Securities
"Throughout the day, the Nifty index exhibited a distinct lack of movement, with traders uncertain about the market's upcoming trajectory. Notably, there is a noticeable resistance observed at the 21-day Exponential Moving Average (EMA) on the chart's upper spectrum. The prevailing sentiment appears feeble, given that the index is positioned beneath the crucial moving average point. As things stand, the market continues to favor a strategy of selling into rallies, maintaining this stance as long as it remains below the 19500 mark."
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