Quote on today`s Nifty 23 August 2021 by Rohit Singre, LKP Securities
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Below is quote on today`s Nifty 23 August 2021 by Rohit Singre, Senior Technical Analyst at LKP Securities
"Index opened a day with gap up but showed selling pressure since the start of the session and closed a day at 16496 with minimal gains forming a bearish candle on the daily chart. It seems the index is forming a fresh consolidation zone in the range of 16350-16600 zone as last two days we have been witnessed a choppy move in the same range which suggest traders can use the same rage for trading purpose, going forwards immediate support is coming near 16450-16400 zone and resistance is coming near 16550-16600 zone"
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