Quote on Nifty 17 June 2025 by Rupak De, Senior Technical Analyst at LKP Securities
Below the Quote on Nifty 17 June 2025 by Rupak De, Senior Technical Analyst at LKP Securities
"Nifty faced resistance around 25,000, leading to a correction to the support level of 24,850. On the hourly timeframe, the index continues to trade above the 200-DMA. However, the RSI is showing a bearish trend on both the daily and hourly charts, indicating weak momentum in the near term. With conflicting technical signals and investors awaiting the outcome of the Fed policy meeting, we expect rangebound movement in the immediate term. A decisive break below 24,850 could trigger further bearishness, while on the higher side, 25,000 is likely to remain a strong resistance."
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