Morning Mantra, 20th December 2021

Good Morning!

After trading in sideways or in consolidation for about 22 consecutive hours, we could see that Nifty had finally broken the stated level of support of 17220 and had given a closing of 16,985 approx. on the last trading day.

Just as we have been stating, hence this is the result of what happens, when one trades in a narrow range.

Moreover, once again after witnessing this downfall, it is being expected that Nifty is quite open for the levels of 16700-16800 as the next support.

Also, just like we have been stating in our Morning Mantra updates that this kind of momentum of the index will continue till the Month of December. Hence, we are being able to witness the same as of now.

Last but not the least, avoid being too aggressive in such situations, instead go for some Cherry Picking strategies and do not lose your hope.

Keep patience and wait for this New Year’s New Hope and New Direction.

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

Regards,
Alok Daiya