Quote on Nifty from Rupak De, Senior Technical Analyst at LKP Securities
Below the Quote on Nifty from Rupak De, Senior Technical Analyst at LKP Securities
"The Nifty slipped due to global weakness, following new tax bill discussions by the U.S. President. Technically, the index declined from the 200-hour moving average and found support at the 21-day EMA. The very short-term trend remains weak, and the Nifty may continue to correct as long as it stays below 24,800. Any rise toward this level could attract selling pressure. On the lower end, support is placed at 24,445 (21EMA); a breakdown below this level could accelerate weakness. On the higher side, if the Nifty moves above 24,650, it may head toward 24,775–24,800."
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