View on Nifty : Nifty traded in a tight range as no directional urgency was visible on the last day Says Rupak De, LKP Securities
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View on Nifty 12 August 2022 By Rupak De, Senior Technical Analyst at LKP Securities
"Nifty traded in a tight range as no directional urgency was visible on the last day of the week. On the weekly chart, the Nifty has gained for the fourth week in a row suggesting an ongoing bullish trend. Despite the proximity to the trend line resistance, the trend remains strong. On the higher end, 17750-17800 is likely to remain strong. A decisive breakout above 17800 may induce a further rally in the market. On the lower end, support is visible at 17300."
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