Daily Nifty50 Analysis

NIFTY
20/2/2024
Overview- HDFC Bank dominates the bullish move in Indian markets. FOMC to resume its meetings from 23rd Feb. Investor's are not expecting more than 3 rate cuts this year as the inflation data is underwhelming in USA. RBI Bulletin states that Govt CAPEX is satisfactory in manufacturing sector.

Outlook for 21/2/2024- Nifty50 remained extremely volatile throughout the day, trading was extremely complicated. Towards the end it gave a closing at 22196 which is its all-time high. Traders should show caution in such a volatile market. It is better to wait for 30-45 mins before getting in a trade tomorrow. Important resistance levels at 22118 and 22084 which will also act as a supply zone on 5 minute-tf.

Note - this is purely educational and not investment advice.