Morning Mantra, 28th October 2022

Just as it we had stated yesterday about it being a good sign if Nifty manages to cross over the 17800 level on closing basis. Similarly, we did observe a beautiful attempt taken by Nifty as it made a high of around 17783, but unfortunately it somehow failed to cross over the same.

Also, as we had stated about our expectations on witnessing volatility in the Market, similarly we observed that after making a gap up opening, Nifty levels had gradually declined to make a low of around 17654. But then later during the last 15-20 minutes, Nifty then showed a recovery of around 100 points.

Therefore, as of now we are still with our words that on a weekly basis, if Nifty gives a closing of above 17800, then very soon we can witness the level of 18100.

Until then stay stock specific.

Nifty Levels 15270-15400-15580-15800 
-16200-16350-16700-17300 -17800 
-18100-18350 
 
Nifty’s Previous Day Closing - 17736.95 (80.60)

Regards, 
Alok Daiya