Quote on Nifty by Vatsal Bhuva, Technical Analyst at LKP Securities
Below the Quote on Nifty by Vatsal Bhuva, Technical Analyst at LKP Securities
"The Nifty index is trading within a range of 23,500 to 24200. In Wednesday's session, it formed a hammer candlestick on the daily chart, closing near its 200-day EMA, thereby strengthening the 23,500 support level. A decisive move will require the index to close below 23,500, which could lead to heightened selling pressure, or sustain above 24,000 to pave the way for a potential rally toward 24,500. Monitoring these crucial levels is essential to identify the next trend in the index."
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