Morning Mantra, 5th May 2022

Good Morning,

Finally, Nifty violated the stated level of support of 16800 yesterday. Where in a way, we can say that the RBI had a significant role to play for such a Breakdown. As unexpectedly instead of their usual June Policy they happened to intervene in the Month of May itself, with some unplanned hikes in the interest rates.

Consequently, now we have either of the 2 options to go with. One of them, is to do nothing with your portfolio as of now and to wait for this week’s closing. On the other hand, the other option can be to mentally prepare yourself for the levels of 15850-15580.

However, as per our best experience, we are quite hopeful for the 1st option, as in such a situation of Indian Economy, where we are facing some crucial and unclear scenarios, like the release of a Branded IPO, an Unplanned intervention by RBI, Hikes in the Interest Rates, etc. it will somehow be better to wait for the Market’s clear cut indication, as of now.

Hence, as we Value our Precious Members and their Capital, it will be suggested to keep patience for the upcoming 2-3 Days.

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

Nifty’s Closing as on 04.05.22 - 16677.60

Regards,
Alok Daiya