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
"Nifty traded in a rangebound manner throughout the session before closing with a marginal loss. The sentiment remains weak as no follow-up buying was visible, despite the formation of a bullish reversal pattern after a significant correction. During the day, it found support around the 38.20% Fibonacci retracement of the previous rally from June 2024 low of 21,281 to all time high of 26,277. Going forward, a recovery might occur in Nifty unless 24,350 is breached. On the higher end, it could move towards 24,650-24,700. However, a fall below 24,350 could trigger a more serious correction."
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