Quote on Nifty : Nifty has dipped below its previous swing high on the daily chart, indicating a decline in bullish sentiment Says Rupak De, LKP Securities
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Below View on Nifty 20 September 2023 By Rupak De, Senior Technical Analyst at LKP Securities
"Nifty has dipped below its previous swing high on the daily chart, indicating a decline in bullish sentiment. Following a period of consolidation, the index experienced a correction, which could be considered as an early indication of a bearish reversal. Additionally, a negative crossover is evident on the daily RSI. In the short term, it is probable that the Nifty will decrease toward the 19700-19630 range. Selling on rallies might remain a favorable strategy as long as the index remains below the 20000 mark."
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