Rupak De, Senior Technical analyst at LKP Securities, said, “Nifty has experienced a significant correction as it was unable to maintain levels above 19,750. In the daily timeframe, the most recent candle has engulfed the bodies of the preceding few days’ candles, which suggests a negative sentiment. The prevailing sentiment continues to favor selling during rallies. Looking ahead, the Nifty may decline towards 19,250, with immediate support situated at 19,450. Resistance is positioned at the higher end at 19,600.”
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