Morning Mantra, 2nd February 2022

Feb 2, 2022

Good Morning!

Just as we had stated, similarly after sustaining above the predicted levels of 17300-17400 during the budget session yesterday, we were finally able to witness a beautiful closing of around 17576 in Nifty.

Moreover to recall, as per our Research we had already stated regarding us being low on our expectations from the budget. Which is why we did face a perfect correction in Nifty from around 18300 to 16800.

Now that Nifty is at a very crucial stage of around 17650-17700, we can expect a sharp rise towards 18300 once after it crosses the aforementioned range.

In addition to the above, it will be suggested to stay cautious and be stock specific for the next 2-3 days in order to let not just yourself, but also the stocks and the industry adjust in tune to the Budget announcement.

Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350

Regards,
Alok Daiya