View on Nifty : The benchmark Nifty found resistance at the upper band of the rising channel Says Rupak De, LKP Securities
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View on Nifty 21 July 2022 By Rupak De, Senior Technical Analyst at LKP Securities
The benchmark Nifty found resistance at the upper band of the rising channel, leading to brief profit-taking during the day. The momentum indicator has its upside up indicating ongoing positive momentum in the value. The trend is likely to remain positive as long as the Nifty remains above 16500. On the higher end, immediate resistance is placed at 16670-16700.
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