Quote on Nifty by Vatsal Bhuva, Technical Analyst at LKP Securities

2025-05-05 05:21:34 pm | Source: LKP Securities Ltd

Quote on Nifty by Vatsal Bhuva, Technical Analyst at LKP Securities

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Below the Quote on Nifty by Vatsal Bhuva, Technical Analyst at LKP Securities

"The Nifty index continues to trade within a narrow range of 24,200 to 25,500, with firm support at the 24,200–24,250 zone and resistance around 24,500–24,550. While a decisive breakout above 24,550 could spark bullish momentum towards 25,000, Monday’s small-bodied candlestick suggests that short-term consolidation may persist. The index is holding above its rising 10-day EMA, reflecting a positive near-term trend. With the RSI in a bullish crossover, underlying strength remains intact. The outlook stays bullish as long as Nifty sustains above 24,200, though a strong close above 24,550 is essential for confirmation."

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Quote on Nifty by Vatsal Bhuva, Technical Analyst at LKP Securities

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