Quote on Nifty 31th July 2025 by Rupak De, Senior Technical Analyst at LKP Securities
Below the Quote on Nifty 31th July 2025 by Rupak De, Senior Technical Analyst at LKP Securities
"The index recovered smartly after a gap-down opening, rising above 24,900. However, the Nifty failed to sustain at higher levels. The index continues to trade below the 50 EMA, confirming a bearish trend. The RSI is in a bearish crossover. Despite several negative setups, a hidden positive divergence has been observed over the past 2–3 days, indicating a potential bullish reversal. This setup may play out well if the Nifty decisively moves above 25,000. On the lower side, support is placed at 24,600. A range-bound movement is expected until the Nifty breaks out of the 24,600–25,000 range."
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