Morning Mantra, 1st June 2022

Good Morning!

Again in the yesterday’s trading session, we did observe how much of a pressure Nifty is currently facing to cross over the level of 16700. As once again even after making a high of around 16690, the index failed to cross over the stated level of Resistance. Besides, we got to witness a lot of supply around that level. However, there was a beautiful stock specific momentum throughout the day.

Moreover, as we have already stated, this week will be very important for the Market. Wherein, we are still with our words that on the upper side, 16700 will play a crucial role as a Resistance. Whereas, 16400 will continue to be a strong support level on the downside.

Also, continue being stock specific as of now.

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

Nifty’s Closing as on 31.05.22 - 16584.55

Regards,
Alok Daiya