NIFTY 50 VIEW

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.