Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities

2024-11-18 05:13:52 pm | Source: LKP securities Ltd

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 exhibited some volatility during the day, slipping near a historical congestion level on the daily timeframe. On the daily chart, the index has been trading below the 200-day moving average (DMA) for the past two sessions. The RSI has entered the oversold zone, accompanied by a bearish crossover. While the overall chart setup remains weak, the selling pressure appears to have eased following a prolonged correction. In the short term, the index may recover towards 23,700–23,800. On the downside, support is positioned at 23,200–23,300."

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Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities

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