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05-11-2024 05:44 PM | Source: LKP securities Ltd
Quote on Nifty by Rupak De, Senior Technical Analyst, LKP Securities
News By Tags | #Sensex #ExpertViews #MarketOutlook #Nifty #BankNifty #LKPSecuritiesLtd #RupakDe

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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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