Morning Mantra, 6th July 2022
Good Morning!
It has been quite a few days now that Nifty has been repeatedly following a pattern of not being able to cross over the crucial Resistance levels of 15850-15950 on a closing basis. On the other hand, on a positive note, it has also been beautifully taking a support at our stated level of 15700. Thereby, indicating some hope & positivity in the Market.
As even yesterday, even after making a beautiful high of around 16025 in the first half, Nifty had somehow failed to stably sustain over the stated levels of 15850-15950 on a closing basis. Which has, once again created a concern.
Therefore, on considering this rigid cycle of momentum by Nifty, we will have to stay cautious as of now, and wait for Nifty to take a clear cut direction of either above the Resistance zone of 15850-15950, or below the strong support level of 15700 on a closing basis.
So, until then, continue being stock specific as of now.
Nifty Levels 15270-15400-15580-15800
-16200-16350-16800-17200-17400
-17700-17900-18000-18350
Nifty’s Previous Day Closing - 15810.85 (-24.50)
Regards,
Alok Daiya
It has been quite a few days now that Nifty has been repeatedly following a pattern of not being able to cross over the crucial Resistance levels of 15850-15950 on a closing basis. On the other hand, on a positive note, it has also been beautifully taking a support at our stated level of 15700. Thereby, indicating some hope & positivity in the Market.
As even yesterday, even after making a beautiful high of around 16025 in the first half, Nifty had somehow failed to stably sustain over the stated levels of 15850-15950 on a closing basis. Which has, once again created a concern.
Therefore, on considering this rigid cycle of momentum by Nifty, we will have to stay cautious as of now, and wait for Nifty to take a clear cut direction of either above the Resistance zone of 15850-15950, or below the strong support level of 15700 on a closing basis.
So, until then, continue being stock specific as of now.
Nifty Levels 15270-15400-15580-15800
-16200-16350-16800-17200-17400
-17700-17900-18000-18350
Nifty’s Previous Day Closing - 15810.85 (-24.50)
Regards,
Alok Daiya
Disclaimer: alokdaiya.in/disclaimer/
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya
Disclaimer
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