Quote on Nifty 15th September 2026 from Vatsal Bhuva, Technical Analyst at LKP Securities

2026-10-15 05:16:58 pm | Source: LKP Securities Ltd

Quote on Nifty 15th September 2026 from Vatsal Bhuva, Technical Analyst at LKP Securities

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Below the Quote on Nifty 15th September 2026 from Vatsal Bhuva, Technical Analyst at LKP Securities

"Nifty has witnessed a strong rebound from its recent lows, reclaiming the 20 DMA on the daily chart, while RSI shows a bullish crossover supported by positive divergence, indicating improving momentum. The index is trading near 23,000, and sustained momentum above this level could lead to a test of the 38.2% Fibonacci retracement near 23,180. However, the broader trend remains weak as Nifty trades below its 50 DMA and 200 DMA. Hence, a cautious stance is advisable, treating the current move as a relief rally until the index reclaims its 50 DMA. Immediate support is placed at 22,800, with resistance at 23,200."

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Quote on Nifty 15th September 2026 from Vatsal Bhuva, Technical Analyst at LKP Securities

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