As we observed in the yesterday’s trading session, that even after a good start, Nifty was unable to give a closing of above 17300. Hence, once again the entire day, Nifty had traded in its consolidation phase of 17000-17300.
However, just as we had stated in our Morning Mantra update yesterday, we could clearly observe the stock specific momentum in the Market.
We are still with our words, that as per the current Market scenario we will have to wait for the index to take an either side direction of below 16800 or above 17300.
Until then, with the strong support level of 16800, continue being stock specific.