Morning Mantra, 6th May 2022

Good Morning,

Just as we had stated yesterday, similarly we did observe how volatile the Market was, during the Yesterday’s Trading Session. As the index initially made a high of around 16945 and then a low of around 16651, during the day itself. Thereby, once again giving us a closing of below the crucial support level of 16800, i.e., of around 16682

Moving ahead, as we had already stated yesterday, we will be patiently waiting for this week’s closing. Where, if Nifty gives a closing of above 16800, then we will be in a comfortable position. Else we will have to mentally prepare ourselves for the levels of 15850-15580.

So, it will be better to patiently wait for today’s closing.

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

Nifty’s Closing as on 05.05.22 - 16682.65

Regards,
Alok Daiya