Daily Nifty50 Analysis

NIFTY
6/3/2024
Overview- All eyes on Fed Chairman's testimony before the Congress. Australian GDP grows 0.2% as expected. Japanese inflation rebounds as economy is under more pressure. India records highest ever agro-exports to middle eastern nations.

Outlook for 7/3/2024- Nifty50 remained extremely volatile and was going in the opposite direction to Banknifty for the most part of the day before rebounding and closing at all-time-high towards the end. As the market has closed at an all-time-high, we can consider fib levels as resistance- 22535 and 22728 as well as psychological levels. Support at 22266 and 22224.

Note - This is purely educational and not Investment advice.