Quote on Nifty 07th October 2026 by Rupak De, Senior Technical Analyst at LKP Securities
Below the Quote on Nifty 07th October 2026 by Rupak De, Senior Technical Analyst at LKP Securities
"The Nifty has slipped lower after finding resistance at the 50-EMA on the hourly chart. The index has shown the first sign of reversal by forming a bearish candle following a strong bullish candle. The hourly RSI has also witnessed a bearish crossover. The next few days will be important, as a decisive fall below 22,600 might reignite bearishness in the market. On the lower end, a break below 22,600 could drag the index towards 22,200 levels. On the other hand, a sustained rise above 22,750 might bring some bullishness back into the market."
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