Quote on Nifty 02 July 2025 by Rupak De, Senior Technical Analyst at LKP Securities
Below the Quote on Nifty 02 July 2025 by Rupak De, Senior Technical Analyst at LKP Securities
"After rallying nearly 5% in recent weeks, the Nifty has witnessed a mild pullback over the past few sessions, bringing it closer to the 38.20% retracement of the prior upmove, around the 25,300 mark. On the hourly chart, the index has found initial support near the 50-hour moving average.
On the upside, immediate resistance is placed at 25,500. A sustained move above this level could pave the way for a short-term recovery, potentially pushing the index towards 25,600 or higher. Conversely, a decisive break below 25,300 may open the door for a sharper correction."
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