View on Nifty : Nifty formed an engulfing pattern after two days of positive Says Rupak De, LKP Securities
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View on Nifty 25 August 2022 By Rupak De, Senior Technical Analyst at LKP Securities
"Nifty formed an engulfing pattern after two days of positive move setting a stage for a bearish reversal. The momentum indicator RSI is also pointing toward a negative momentum in the near term. On the lower end, 17480 is likely to act as initial support; a fall below 17480 may take the index towards 17350. Below 17350 the Nifty may drift down towards 17000-16950. On the higher end, resistance is visible at 17700."
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