NIFTY 50 VIEW
Nifty 50 Daily View : Buy on dips
- Supply and Demand Zones highlighted in green and red respectively
- Pullback possible given the higher than expected US CPI data, suggesting a potential 100bps rate hike. (75bps factored?)
- However, the weekly flag pattern observed is extremely bullish and looks to be on the cusp of a breakout.
- NIFTY50 target for YE2022: If the flag holds we would see 21000 else some more consolidation in the 19K-16K range.
- Supply and Demand Zones highlighted in green and red respectively
- Pullback possible given the higher than expected US CPI data, suggesting a potential 100bps rate hike. (75bps factored?)
- However, the weekly flag pattern observed is extremely bullish and looks to be on the cusp of a breakout.
- NIFTY50 target for YE2022: If the flag holds we would see 21000 else some more consolidation in the 19K-16K range.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.