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Here's what Ravi Nathani recommends on the financial sector

According to the technical analyst, traders should adopt a strategy of purchasing near support and selling near resistance for the Nifty financial services index

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3 min read Last Updated : Feb 07 2023 | 8:12 AM IST

Nifty Financial Services Index
Last close: 18,371.60 (Range Bound)

The Financial Services index, which is currently trading at a level of 18,371.60, exhibited robust fortification as evidenced by the utilization of the Pivot Level technical indicator. The index established support at 50 per cent region situated between the S1 and Pivot, which is just above the pivot value of 18,353.

Such price behavior implies that the index is likely to persist within a circumscribed range for a substantial duration, in the range between R1 (19000) and S1 (17450). A decisive violation of this range, in either direction, shall provide

Topics : Market Outlook Trading strategies stocks technical analysis Financial Nifty PSU Bank Nifty PSU Bank

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