Quote on Nifty 29th August 2025 from Rupak De, Senior Technical Analyst, LKP Securities

2025-08-30 04:15:29 pm | Source: LKP Securities Ltd

Quote on Nifty 29th August 2025 from Rupak De, Senior Technical Analyst, LKP Securities

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Below the Quote on Nifty 29th August 2025 from Rupak De, Senior Technical Analyst, LKP Securities

"The Indian equity market recorded another day of losses, extending the corrective leg. On the daily chart, the index has fallen further below the 100 EMA, confirming a deeper bearish trend. The RSI is in a bearish crossover, indicating sustained weakness. In the short term, the trend may remain weak, potentially dragging Nifty towards the 200 DMA placed at 24,071. On the lower end, support is placed at 24,400/24,150, while on the higher end, resistance is seen at 24,650. A “sell on rise” strategy remains preferable as long as the index stays below 24,850."

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Quote on Nifty 29th August 2025 from Rupak De, Senior Technical Analyst, LKP Securities

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