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Quote on Nifty 18 August 2022 By Rupak De, Senior Technical Analyst at LKP Securities

"Nifty remained sideward during the day before closing around the previous session high. The trend remains positive as the index has been sustaining above the major moving average on the daily timeframe. The daily RSI is in a bullish crossover in the overbought zone. The trend for the short term is likely to remain strong. On the higher end, resistance is visible at 18000-18100. On the lower end, support is visible at 17800-17700.

The Bank Nifty remained volatile during the day before closing higher. The momentum oscillator RSI is in bullish crossover and rising deep into the overbought zone. The trend for the short term is likely to remain strong. On the higher end, resistance is visible at 40100. On the lower end, support is visible at 39250/39000"

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