Morning Mantra, 23rd May 2022

Good Morning!

Just as we had witnessed, the previous week was somehow highly volatile. Wherein, we had faced a gap up opening as well as a gap down opening.

In the meanwhile, on the positive note Nifty is above 15900 but unfortunately was not able to cross above 16400. So, we can say that Nifty is still struggling hard between the figures of 15580, 15850 and 16400.

If Nifty manages to cross above 16400, then we can soon see a positive rally in the Market. However, on the other hand, if there’s any news or any factor which might not be so favourable to the Market then the downside level of 15580 is still very much open.

Moreover, in the meanwhile continue being stock specific and start accumulating following the cherry picking strategy.

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

Nifty’s Closing as on 20.05.22 - 16266.15

Regards,
Alok Daiya