Morning Mantra, 5th August 2022
Good Morning!
A bearish pattern formation, named as Hanging Man on Nifty’s Day chart, is somehow indicating Today to be a profit booking Day. So, be a little cautious.
Although profit booking at the current levels is quite natural. Besides, with the support level of 16700, the overall sentiments of the Market still seems to be quite positive.
Also, as per our observation, from the past few days most of the stocks are at their respective resistance zone. Which altogether can also create a selling pressure on the Market for a very short term.
Happy Investing!
Nifty Levels 15270-15400-15580-15800
-16200-16350-16800-17200-17400
-17700-17900-18000-18350
Nifty’s Previous Day Closing - 17382 (-6.15)
Regards,
Alok Daiya
A bearish pattern formation, named as Hanging Man on Nifty’s Day chart, is somehow indicating Today to be a profit booking Day. So, be a little cautious.
Although profit booking at the current levels is quite natural. Besides, with the support level of 16700, the overall sentiments of the Market still seems to be quite positive.
Also, as per our observation, from the past few days most of the stocks are at their respective resistance zone. Which altogether can also create a selling pressure on the Market for a very short term.
Happy Investing!
Nifty Levels 15270-15400-15580-15800
-16200-16350-16800-17200-17400
-17700-17900-18000-18350
Nifty’s Previous Day Closing - 17382 (-6.15)
Regards,
Alok Daiya
Disclaimer: alokdaiya.in/disclaimer/
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.