Morning Mantra, 13th May 2022

Good Morning!

Finally the D Day has arrived. Where taking a sharp move, Nifty has touched the level of 15850 from 18100 that too within just 6 weeks of time.

As of now, we could see how for almost the entire day, Nifty had struggled a lot to cross above the level of 15900, yesterday. Which however creates a concern. But the concern should be of a very narrow range of 15850-15580.

Besides we hope that you do remember, how we have always been stating the crucial figure of not just 15850 but also 15580. 15850-15580 are the crucial levels where Nifty can consolidate and prepare a platform. So, with fingers crossed we expect to see some positive movements in Nifty.

Moreover, since today is the last trading day of the week, we will have to wait and watch whether Nifty manages to cross over and give a stable closing of above 15900 or does it choose to touch the level of 15580 on the downside.

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

Nifty’s Closing as on 12.05.22 - 15808

Regards,
Alok Daiya