View on Nifty 07 July 2022 By Rupak De, LKP Securities
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View on Nifty 07 July 2022 By Rupak De, Senior Technical Analyst at LKP Securities
"The Nifty started to gap up and remained in a range throughout the day, keeping the morning gain intact. At the end of the session, the Nifty managed to close above its 50-day moving average, suggesting a bullish trend reversal. The momentum indicator has been in a bullish crossover for the last few days, indicating ongoing bullish momentum. Over the short term, the headline index may move towards 16400 if it sustains above 16100. On the lower end, support is visible at 16000."
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