2025-08-08 05:34:05 pm | Source: LKP securities Ltd
Quote on Nifty 08th Aug 2025 by Rupak De, Senior Technical Analyst at LKP Securities
Below the Quote on Nifty 08th Aug 2025 by Rupak De, Senior Technical Analyst at LKP Securities
"The Nifty moved southward as it failed to sustain above the 50 EMA on the hourly chart, indicating prevailing selling pressure. Moreover, the index closed below the crucial support level of 24,400, highlighting the strength of the bears. Sentiment was already tilted in favour of the bears, with the index forming a lower-top, lower-bottom pattern. The short-term trend remains weak, with potential downside towards 24,150–24,200. On the higher side, resistance is seen at 24,475–24,500."
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