2025-06-02 05:36:02 pm | Source: LKP securities Ltd
Quote on Nifty by Vatsal Bhuva, Technical Analyst at LKP Securities
Below the Quote on Nifty by Vatsal Bhuva, Technical Analyst at LKP Securities
"Nifty continues to hover in a narrow band between 24,500 and 25,000, indicating a phase of consolidation. Despite a gap-down start on Monday, it managed to close above its 20-day EMA, showing some buying interest at lower levels. However, the RSI’s negative divergence and bearish crossover reflect weak momentum. Immediate support is placed at 23,630 where its 20 days EMA is placed, while positional support lies at 24,500–24,550. Resistance levels are marked at 24,860 and 25,070. The trend remains sideways with a slight negative bias unless a range breakout occurs."
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