Morning Mantra - 27th June 2023

Dear All,

Just as we had stated yesterday itself, about receiving a signal from Nifty, via the formation of a Dark Cloud Cover on its weekly chart. Likewise, we did observe a selling pressure in the Market till the second half.

Although in the later half, we did also witness some recovery in Nifty. Consequently, we can now observe the formation of a Cross Doji pattern on the Day chart of Nifty. Which is somehow indicating the probability of witnessing a reversal Today.

Indeed we can once again become optimistic regarding this Reversal, as it might take Nifty to its new high.

However, as stated yesterday as well, this week will somehow be very crucial for the Market, as we have only 3 more trading days to go in this week.

Last but not the least, with the stop loss of 18400 on closing basis, we are still bullish on Nifty. Where in the meanwhile, be stock specific and keep Rebalancing the Portfolio.

Regards,
Alok Daiya
SEBI Registered Research Analyst

Comment:

Yippee! Our Morning Mantra has been proven to be on point once again!!!!
As Nifty has finally made its Fresh New high of 19011.25, dated : 28th June 2023