Morning Mantra, 19th July 2022

Good Morning!

Just as we had stated on the 13th of July itself, about our positive sentiments towards expecting Nifty to face a resistance near the levels of 16300. Similarly, we did observe how the Index is facing a tough Resistance near the stated level as with a beautiful uprise, it made a high of 16287.95 and had ultimately given us a closing of 16278.50, yesterday.

So, with the crucial support at 15850, we are still with our words as we are positively hopeful to witness a cross over and a stable closing of above 16300 in Nifty. After which 16700 will be the next level of Resistance.

Until then continue being stock specific and follow the Cherry Picking Strategy, as of now.

Nifty Levels 15270-15400-15580-15800
-16200-16350-16800-17200-17400
-17700-17900-18000-18350

Nifty’s Previous Day Closing - 16278.50 (229.30)

Regards,
Alok Daiya