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Quote on Nifty :The Nifty experienced a significant decline after failing to maintain its position above 19500 Says Rupak De, LKP Securities
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Below View on Bank Nifty 07 July 2023 By Rupak De, Senior Technical Analyst at LKP Securities
The Nifty experienced a significant decline after failing to maintain its position above 19500. This drop led to the index falling below the 21EMA on the hourly chart, indicating an increasing bearish sentiment in the market. Furthermore, the hourly RSI has shown a bearish crossover, adding to the negative outlook. The immediate support level is identified at 19300, while the resistance level remains at 19500.
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