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 slipped from the head and shoulder pattern on the daily timeframe, leading to a sharp fall during the day. Sentiment further weakened after the Nifty broke below the crucial support level of 24,700. The sentiment may remain weak as long as the index stays below 24,700, with a "sell on rise" strategy favored by market participants. The index has fallen below the 100 EMA for the first time since early June of this year. On the lower end, support is placed at 24,400, and if the index falls below this level, it may extend its correction towards 24,000."
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