Quote on Nifty : the index has broken out of a falling channel, further indicating increasing bullish sentiment Says Rupak De, LKP Securities
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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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