Morning Mantra - 21st August 2023
Dear All,
As we had observed a Doji formation on the Day chart of Nifty on the last Friday. Likewise, fortunately we had witnessed a closing of above 19300 on Friday itself.
However, overall the situation is still quite crucial as of now, since Nifty is finding difficulty and is not being able to reach and sustain above the level 19550. Therefore, in such a situation it is being very difficult to predict about the next move of the Market, as of now. But still we have the 2 important levels to consider, i.e., 19300 and 19550 on the upper side.
Moreover, just as we had stated on the last Friday as well, similarly there’s a probability to witness some panic in the Market if in case Nifty breaks the level of 19300 on closing basis.
So, in such a situation, following the Cherry Picking strategy will be a good idea here, also it will be better to keep Rebalancing the portfolio.
Furthermore, for those who had already been rebalancing their portfolios at around the 20000 level, they can be suggested to partially accumulate in the Market following the Cherry Picking strategy as of now.
Keep Trading!
Keep Investing!
Regards,
Alok Daiya
SEBI Registered Research Analyst
As we had observed a Doji formation on the Day chart of Nifty on the last Friday. Likewise, fortunately we had witnessed a closing of above 19300 on Friday itself.
However, overall the situation is still quite crucial as of now, since Nifty is finding difficulty and is not being able to reach and sustain above the level 19550. Therefore, in such a situation it is being very difficult to predict about the next move of the Market, as of now. But still we have the 2 important levels to consider, i.e., 19300 and 19550 on the upper side.
Moreover, just as we had stated on the last Friday as well, similarly there’s a probability to witness some panic in the Market if in case Nifty breaks the level of 19300 on closing basis.
So, in such a situation, following the Cherry Picking strategy will be a good idea here, also it will be better to keep Rebalancing the portfolio.
Furthermore, for those who had already been rebalancing their portfolios at around the 20000 level, they can be suggested to partially accumulate in the Market following the Cherry Picking strategy as of now.
Keep Trading!
Keep 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
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