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2024-11-05 05:44:17 pm | Source: LKP securities Ltd
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities

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

 

"Nifty has found support around a historical swing low for the second consecutive day. On the technical front, a Piercing Line candlestick pattern has appeared on the daily chart, suggesting a potential bullish reversal. Additionally, a positive divergence on the daily RSI further strengthens the case for an upward move. Looking ahead, a buy-on-dips strategy could benefit traders as long as Nifty stays above 24,000. On the higher side, Nifty may advance toward the 24,750-24,800 range. However, the buy-on-dips strategy has to be reviewed once Nifty falls back below 24000."

 

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