Morning Mantra, 6th January 2023

Well once again, yesterday was a day full of volatility in the Market.

Where on the one hand, we had witnessed an effective bear momentum in the first half. On the other hand, the second half came with a sharp recovery.

However, unfortunately we had ultimately witnessed a closing of below 18000 in Nifty, yesterday.

Nevertheless, we have been stating from time to time that currently, Nifty is somehow struggling in between the levels of 18400 and 17800.

So as of now, as per our methodology, we will have to wait for another 1 week for either a positive breakout of 18400 or a breakdown of 17800 in Nifty. Since, it is being expected that by 16th of January we can get a clear cut indication from the Market.

Therefore till then, be a little cautious, be stock specific and continue rebalancing your portfolio, as the situations of pre-budget and Q3 results can have an impact on the Market, in the coming days.

Nifty Levels 15270-15400-15580-15800 
-16200-16350-16700-17300 -17800 
-18100-18350 
 
Nifty’s Previous Day Closing :- 17992.15 (-50.80)

Regards, 
Alok Daiya