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.