Morning Mantra, 10th August 2022

Good Morning!

Just as we had stated on the last trading day, about the necessity of Nifty crossing over above 17500. Fortunately, we did observe a beautiful breakout and a closing of above 17500 on a day basis in Nifty. Which was again, quite a good sign. Otherwise, if Nifty was unable to do so, then we were expecting to witness a pull back.

But, as the market sentiments still seems to be positive and is indicating to show us a New High by this Diwali. So, with an immediate support of 16700 we will currently be suggesting 2 methodologies, that can be followed here. Firstly, Cherry Picking can be done for those stocks which still seems to be undervalued, and secondly, you can go with the Sell on Rise strategy for those stocks that had accumulated during the last 2-3 months and are now generating a good return.

So keep investing and wish you a day of happy trading.

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

Nifty’s Previous Day Closing - 17525.10 (127.60)

Regards,
Alok Daiya