Daily Nifty50 Analysis

NIFTY
21/3/2024
Overview- Fed shows a dovish stand in last night's meeting. 3 rate cuts on cards for this year, while the interest rate remains the same. Japanese manufacturing activity improves in March.

Outlook for 22/3/2024- All global markets were bullish after the fed meeting. Nifty opened gap-up although it wasn't as bullish for the rest of the day and formed an indecisive doji candle on daily-time frame. We can conclude that the market is in no particular direction at this moment in time. Important support levels at 21940 and 21982 while resistance at 22080 and 22121.

Note- this is Purely educational and not Investment advice.