Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty recovered smartly, shrugging off the negativity of last week. However, the upside was limited to the recent high, keeping the consolidation phase intact. On the higher end, 24,360 has remained a resistance level, and the Nifty might spend some more time around the current range unless 24,360 is decisively breached. Above 24,360, the index could move towards 24,550, where the 61.80% Fibonacci retracement level of the previous fall from 26,277 to 21,743 lies. On the lower end, support is placed at 24,000, below which the index might start falling towards 23,800 or even 23,350."
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