Quote on Nifty : he Nifty index encountered a robust resurgence of bearish momentum, Says Kunal Shah, LKP Securities

30/08/2023 5:38:34 PM | Source: LKP Securities

Quote on Nifty : he Nifty index encountered a robust resurgence of bearish momentum, Says Kunal Shah, LKP Securities

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Below View on Nifty 30 August 2023 By Kunal Shah, Senior Technical Analyst at LKP Securities

"The Nifty index encountered a robust resurgence of bearish momentum, leading to considerable selling pressure at elevated levels. Amidst this downturn, the addition of substantial open interest in the 19500CE options signifies that the index is poised to expire below the 19500 mark.In terms of technical levels, the index's immediate support on the downside is evident in the range of 19300-19250. A failure to sustain above this level could potentially trigger a continuation of the downward movement."

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Quote on Nifty : he Nifty index encountered a robust resurgence of bearish momentum, Says Kunal Shah, LKP Securities

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