View on Bank Nifty : The index traded in a range on an intraday basis and held the support of 38,000 Says Kunal Shah, LKP Securities
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View on Bank Nifty 29 August 2022 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
"After a big gap down, the index traded in a range on an intraday basis and held the support of 38,000. The index is stuck in a broad range between 38,000-39,000 levels where the demand and supply are visible. The index if fails to hold the support of 38,000 on a closing basis will see an extension of the current sell-off. The immediate hurdle on the upside is placed at 38,500 and if breached can witness some short covering move toward 38,800-39,000 levels."
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