Quote on Nifty: The index has posted a muted close after a sideward trading session Says Rupak De, LKP Securities
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Below Quote on Nifty 25 November 2022 By Rupak De, Senior Technical Analyst at LKP Securities
"The index has posted a muted close after a sideward trading session. On the daily chart, the Nifty has reached the rising trend line found by joining the preceding peaks. The momentum indicator has reached the falling trendline on the daily timeframe. Based on the price chart and momentum indicator setup we can infer that the index is on the verge of strong directional movement over the short term. On the lower end, a fall below 18,450 may trigger a correction towards 18,100-18,000; whereas, on the higher end, a rise above 18,605 may induce a decent rally in the market."
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