View on Nifty : The momentum indicator is in a bearish crossover indicating a bearishness Says Rupak De, LKP Securities
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View on Nifty 01 September 2022 By Rupak De, Senior Technical Analyst at LKP Securities
"Nifty remained sideways during the day before ending 1% lower. After starting to gap down on the back of a weak global cue, the Nifty failed to recover fully and traded within a range for the day. The momentum indicator is in a bearish crossover indicating a bearishness. On the lower end, 17400 may continue to act as crucial support, below which the index may become weak again. On the higher end, resistance is visible at 17700."
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