Morning Mantra, 16th December 2021

Good Morning!

Just as we had stated yesterday, similarly we did witness how Nifty was ultimately unable to break the stated level of support which was at 17220 and instead had unfortunately traded between the stated levels of 17360-17220, i.e., it traded between 140 points for 6 hours straight. Thereby, indicating its movement in a super indecisive mode along with the stock specific momentum for the entire Trading session, yesterday.

Therefore, as per the current market situations, it will still be suggested to stay stock specific and to remain cautious.

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

Regards,
Alok Daiya

Comment:

Just like we had stated today morning itself, similarly it can very well be witnessed that failing to sustain above the level of 17360, the index has tumbled down to the levels of 17217 approx, making a day's low of 17195 approx.