Quote on Nifty: Nifty remained under the grip of the bears as investors booked profits post the rate hike Says Rupak De, LKP Securities
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Below View on Nifty 07 December 2022 By Rupak De, Senior Technical Analyst at LKP Securities
"Nifty remained under the grip of the bears as investors booked profits post the rate hike by the RBI governor. The index slipped below its recent consolidation on the hourly chart, suggesting a waning bullishness. The momentum oscillator is in a bearish crossover. The trend is likely to remain negative going forward; support on the lower end is pegged at 18,500/18,350. On the higher end, resistance is visible at 18,670/18,750."
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