Morning Mantra, 7th June 2022

Good Morning!

In the yesterday’s trading session, we observed a negative opening from Nifty. Followed by a beautiful recovery in the 2nd half and then a flat closing at the end of the day.

Observing the indices momentum throughout the day, we can see that somewhere or the other the index is repeatedly facing a strong support at the level of around 16400. Thereby showing the strength in the Market.

Moreover, as Nifty is still trading in its consolidation phase of 16700-16400, we will have to wait for an either side breakout or breakdown from the index .

Also, as per the market’s stock specific momentum throughout the day, it will be suggested to 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 06.06.22 - 16569.55

Regards,
Alok Daiya