View on Nifty : The trend after todays massive movement looks positive Says Rupak De, LKP Securities
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View on Nifty 30 August 2022 By Rupak De, Senior Technical Analyst at LKP Securities
"Bulls had a grand return as the benchmark index clocked a 2.5% rally on Tuesday following a gap-down closing in the previous session. A strong rally took the index above the recent consolidation sending the 50 EMA above 200 DMA. The RSI on the other hand is still in a bearish crossover. The trend after today's massive movement looks positive. Over the short term, the index may move towards 18000-18100. On the lower end, support is visible at 17500."
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