Morning Mantra, 8th September 2022

Yet another day, and Nifty had failed to decide its new way. As it has been almost 11 consecutive days now, that Nifty has been trading in a consolidation zone. From which, just as we had stated earlier, similarly we can say that the index is somehow creating a platform for a new rally.

Moreover, by Today or Tomorrow, we can expect to witness either a breakout or a breakdown from this consolidation in Nifty.

Although as per the current market situation, we are quite optimistic for a breakout of 17800 level. After which we are expecting to witness a sharp rise in the index.

Nifty Levels 15270-15400-15580-15800
-16200-16350-16700-17300 -17800
-18100-18350

Nifty’s Previous Day Closing - 17624.40 (-31.20)

Regards,
Alok Daiya