Quote on Nifty : the index has broken out of a falling channel, further indicating increasing bullish sentiment Says Rupak De, LKP Securities
Below Quote on Nifty 01 September 2023 By Rupak De, Senior Technical Analyst at LKP Securities
"Nifty has started the September series on a bullish note, as the index has moved above the 21EMA for the first time in several days. This suggests the potential for a bullish reversal. Additionally, the index has broken out of a falling channel, further indicating increasing bullish sentiment. Looking at the higher end of the spectrum, there is now a resistance level at 19,530 points. If the Nifty manages to breach this resistance, it could signal a continuation of the uptrend. On the lower end, there is strong support at 19,340 points."
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