A decisive break below the 20-day moving average has weakened the Nifty’s technical structure in the near term, shifting the risk-reward ratio downwards, says Rupak De of LKP Securities. With volatility rising and key Fibonacci support levels breached, he sees potential for further corrective moves towards 25,000 unless the index regains resistance levels quickly.Edited excerpts […]
Nifty ended with cuts on Thursday led by massive selling pressure on IT stocks. It was the second loss in a row as the index remained under selling pressure after a weak open.Commenting on the day’s action, Rupak De, senior technical analyst at LKP Securities, said the selling momentum was not strong, resulting in a […]