Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
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Below the Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
"The Nifty has moved up sharply after forming a panic bottom around 24,570, failing to sustain below 24,700. On the hourly chart, a positive divergence is visible on the RSI (14), indicating a shift toward positive price momentum. Immediate resistance is seen at 24,900, which previously acted as support. A decisive move above 24,900 could induce a short-term rally. The trend is likely to remain strong as long as the Nifty stays above 24,750."
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