Morning Mantra, 17th November 2022

It seems that Nifty is somehow testing our patience, as it is the 2nd consecutive day, that the Index has given a closing of around 18409. Which however, has proven yesterday's Morning Mantra update to be on point, since we had already stated about the confusion that we can face in the Market.

On the other hand, just like it was stated we did also observe a stock specific momentum in the Market.

Besides that, as of now, even though the chart is somehow reflecting a state of confusion, the overall Market sentiments still seems to be positive. Which is why we can now observe the formation of a Doji on the daily chart.

However, with this positiveness continue being stock specific and wait and watch for a new high in Nifty. Where, we are still with our words that the level of 18510 will be very crucial for the index.

Nifty Levels 15270-15400-15580-15800 
-16200-16350-16700-17300 -17800 
-18100-18350 
 
Nifty’s Previous Day Closing - 18409.65 (6.25)

Regards, 
Alok Daiya