Daily Nifty50 Analysis

NIFTY
20/3/2024
Overview-All eyes on Fed's interest rate decision. Us crude oil data comes underwhelming as their inventory falls by 2 million/b. Adani group states that they have received no letter from US Department of Justice.

Outlook for 21/3/2024- Nifty closed 20 points higher after moving up and down throughout the day with no particular direction. It can be attributed to the Fed interest rate decision coming tonight. Nifty now trading within 22000 and 21700. Important resistance level at 21930 and 21977, while a support at 21711. Although a direction will be clear after the Fed announcement later tonight.

Note- This is purely educational and not Investment advice.