Morning Mantra, 8th August 2022

Good Morning!

A closing of above 17500 in Nifty, has now become very important, as the formation of a Hanging Man pattern on the chart has raised a concern.

So, for now, we can expect to witness a pull back in Nifty, until we get to witness a closing of above the aforementioned level.

In the meanwhile, Sell on Rise will be a good idea here, as per your risk appetite for the stocks that were accumulated during the last 2-3 Months.

Besides, the level of 16700 will be an immediate support for Nifty in the near term.

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

Nifty’s Previous Day Closing - 17389.80 (7.80)

Regards,
Alok Daiya