Quote on Nifty 05th March 2026 by Rupak De, Senior Technical Analyst at LKP Securities
Below the Quote on Nifty 05th March 2026 by Rupak De, Senior Technical Analyst at LKP Securities
"The index has been in a “sell on rise” phase over the past few days, and the sentiment surrounding Bank Nifty remains unchanged. Although there was a recovery from Wednesday’s low, the bounce does not appear convincing.
On the hourly chart, the index has failed to move above the 21 EMA, highlighting the underlying weakness in the banking space. On the higher side, resistance is placed at 59,500/59660. On the downside, 58,400 acts as key support, below which the correction may deepen further."
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