Dear All,
Just as we had stated yesterday, about witnessing the formation of a Morning Star Doji, consequently we did also observe a gap up opening in Nifty, along with a positive momentum in the Market.
However, unfortunately Nifty was somehow unable to crossover the high of the past 4-5 days. Besides, we can now observe the formation of a Doji pattern on the upper levels of Nifty, which altogether is indicating a reversal from here.
In the meanwhile, the level of 18200 will continue to play a very crucial role, as of now. Above which, we are indeed ready to witness a new high in the upcoming days. Whereas, on the lower side, the level of 17800 will be the crucial support for Nifty.
Furthermore, since Nifty is currently trading in a narrow range of 18450 to 18200, so an either side breakout or breakdown is quite important here, for the Market Participants.
Until then, Portfolio Rebalancing will be a good idea. Besides, following the Cherry Picking strategy will be like a Cherry on the Cake.
Happy Trading!
Happy Investing!
Regards,
Alok Daiya
SEBI Registered Research Analyst
Just as we had stated yesterday, about witnessing the formation of a Morning Star Doji, consequently we did also observe a gap up opening in Nifty, along with a positive momentum in the Market.
However, unfortunately Nifty was somehow unable to crossover the high of the past 4-5 days. Besides, we can now observe the formation of a Doji pattern on the upper levels of Nifty, which altogether is indicating a reversal from here.
In the meanwhile, the level of 18200 will continue to play a very crucial role, as of now. Above which, we are indeed ready to witness a new high in the upcoming days. Whereas, on the lower side, the level of 17800 will be the crucial support for Nifty.
Furthermore, since Nifty is currently trading in a narrow range of 18450 to 18200, so an either side breakout or breakdown is quite important here, for the Market Participants.
Until then, Portfolio Rebalancing will be a good idea. Besides, following the Cherry Picking strategy will be like a Cherry on the Cake.
Happy Trading!
Happy Investing!
Regards,
Alok Daiya
SEBI Registered Research Analyst
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
As Nifty has finally made its Fresh New high of 19011.25, dated : 28th June 2023