Morning Mantra, 3rd October 2022

Somehow or other, Nifty still seems to be in an indecisive mode as of now. Although fortunately just as we had stated on the last trading day about the current market sentiments being positive. Similarly on the same day itself, Nifty showed a beautiful recovery just after the announcement of the RBI policy and after crossing over our stated Resistance level of 16940.

Well as of now, as per the daily and the weekly chart, we can observe some beautiful bullish reversal patterns. Which again is showing a strength in the market for the coming days.

After Nifty managing to cross over 16940, the level of 17270 will be the next resistance level for the index. So until then, be quite cautious and stock specific.

So, till then keep learning, keep investing.

Happy Ashtami
Happy Durga Puja!

Nifty Levels 15270-15400-15580-15800
-16200-16350-16700-17300 -17800
-18100-18350

Nifty’s Previous Day Closing - 17094.35 (276.25)

Regards,
Alok Daiya