Niftytrading
Morning Mantra, 16th May 2022Good Morning!
On the last Friday, we had observed an exceptional day of huge volatility. Where we had witnessed a beautiful short covering within the 1st 4-5 hours of the Trading session and thereafter some profit booking from the Traders.
Well in accordance to the previous Morning Mantra updates, we know that a stable closing of above 15900 is very important for the Target of 16400, as of now.
However, since the index failed to cross over the stated level of Resistance on the last trading day, we are once again pushed back to our state of dilemma, where we must have to wait for a clear cut direction of either side Movement from the Market.
Until then, it will be best to stay cautious and to continue being stock specific.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 13.05.22 - 15782.15
Regards,
Alok Daiya
Morning Mantra, 13th May 2022Good Morning!
Finally the D Day has arrived. Where taking a sharp move, Nifty has touched the level of 15850 from 18100 that too within just 6 weeks of time.
As of now, we could see how for almost the entire day, Nifty had struggled a lot to cross above the level of 15900, yesterday. Which however creates a concern. But the concern should be of a very narrow range of 15850-15580.
Besides we hope that you do remember, how we have always been stating the crucial figure of not just 15850 but also 15580. 15850-15580 are the crucial levels where Nifty can consolidate and prepare a platform. So, with fingers crossed we expect to see some positive movements in Nifty.
Moreover, since today is the last trading day of the week, we will have to wait and watch whether Nifty manages to cross over and give a stable closing of above 15900 or does it choose to touch the level of 15580 on the downside.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 12.05.22 - 15808
Regards,
Alok Daiya
Morning Mantra, 12th May 2022Good Morning!
In the yesterday’s trading session, we got to witness a short and a sharp covering from the day’s low of 15990 approx. Not just that but we also very well witnessed a sharp recovery in some of the stocks during the last 2 trading hours of the Market.
As of now, a very beautiful hammer formation (a positive sign) can be seen on the daily chart. However, it is being expected that Today will again be a very crucial day for the Market, as it’s a day of weekly settlement. Thereby, there’s a need to stay cautious as the Market is already trading in a very narrow range of 16400-15850.
So, stay cautious and continue being stock specific, as it will be better idea for Today as well. We somehow wish that today’s Market will somehow clarify its next move for the upcoming days.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 11.05.22 - 16167.10
Regards,
Alok Daiya
Morning Mantra, 11th May 2022Good Morning!
Just as we had stated yesterday, about the chances of the Index taking a bounce back, similarly we did witness the same for almost the entire day, except for the last 40 minutes of the Yesterday’s Trading session.
Certainly it was during the last 30-40 minutes of the Trading session, that the Index took a sharp fall from the day’s high of around 16404. Thereby, coming back to the Red Zone.
Therefore, again it’s a very crucial time for us, where once again, there’s a need to wait and watch for the either side of a stable movement from the Index, i.e., of above its Resistance level of 16400 on the upper side or down through the support level of 15850.
Until then stay cautious and continue being Stock Specific as of now.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 10.05.22 - 16240.05
Regards,
Alok Daiya
Morning Mantra, 10th May 2022Good Morning!
Yesterday, we had witnessed a gap down opening in the Index and thereafter an index wise recovery was also observed. However, such a recovery was missing in the case of most of the stocks. Hence, once again, we are in the mood for a stock specific selection even Today.
As of now, with the support zone of 15850-15580 on the downside, and a Resistance at around 16700 on the upper side, we are expecting to witness a bounce back rally in Nifty.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 09.05.22 - 16301.85
Regards,
Alok Daiya
Morning Mantra, 9th May 2022Good Morning!
As per the Current Market Scenario, our support zone of 15580-15850 has been activated once again. However, a positive sentiment will be active only after witnessing a stable closing of above 16800.
Moreover, on the basis of the hourly chart setup of the index, we are expecting to witness a formation of an island gap.
Since the Market is highly affected by some major systematic risk, these days. It will be advisable to be stock specific during this Result season.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 06.05.22 - 16411.25
Regards,
Alok Daiya
Morning Mantra, 6th May 2022Good Morning,
Just as we had stated yesterday, similarly we did observe how volatile the Market was, during the Yesterday’s Trading Session. As the index initially made a high of around 16945 and then a low of around 16651, during the day itself. Thereby, once again giving us a closing of below the crucial support level of 16800, i.e., of around 16682
Moving ahead, as we had already stated yesterday, we will be patiently waiting for this week’s closing. Where, if Nifty gives a closing of above 16800, then we will be in a comfortable position. Else we will have to mentally prepare ourselves for the levels of 15850-15580.
So, it will be better to patiently wait for today’s closing.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 05.05.22 - 16682.65
Regards,
Alok Daiya
Morning Mantra, 4th May 2022Good Morning,
Currently, the Indian Market seems to be waiting for a big IPO.
Meanwhile, on the last trading day, we had observed a gap down opening in the Index, and thereafter also a good recovery had been observed on the same day, itself.
As of now, we are still quite optimistic and can say that with the stop loss of 16800, the index seems to be moving forward to 17300. Besides, after a significant closing of above 17300, Nifty can face a resistance at the level of around 17650.
So until then, be quite cautious and be stock specific.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 02.05.22 - 17069.10
Regards,
Alok Daiya
Morning Mantra, 2nd May 2022Good Morning!
As we had stated in the last trading session, similarly we did witness how beautifully the index managed to cross over and trade above its crucial level of Resistance of 17300 for almost the entire day. However, unfortunately, facing the selling pressure in the last 40-45 minutes, resulted in a closing of around 17102.55
Therefore, we can observe the level of difficulty that is being faced by the index to come out of its consolidation phase of 17000-17300.
However, being positive on the index, we are still with our words, that with the immediate support at 16800, 17300 remains to be the crucial level of Resistance for Nifty to cross.
Until then, continue being stock specific.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 29.04.22 - 17102.55
Regards,
Alok Daiya
Morning Mantra, 28th April 2022Good Morning,
On witnessing a gap down opening in Nifty, yesterday, we did also observe how thereafter the Market continued to trade in its consolidation zone, with a very little momentum.
Also, once again it failed to either cross above the level of 17300 or break down the support level of 16800.
Moreover, since today is a Monthly Expiry, it is being expected that the Market will continue to trade in its super consolidation zone. Therefore, instead of being too aggressive in the Market it will be suggested to consider today as a NO TRADE DAY.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 27.04.22 - 17038.40
Regards,
Alok Daiya
Morning Mantra, 26th April 2022Good Morning,
After a gap down closing and lots of Doji formations on the chart, we can say that Nifty is somehow still trading in its consolidation phase. Which in turn, is creating a sense of cautiousness in the Market.
In fact, as per the current scenario, it will be better to avoid being too aggressive and to instead wait for the index to take a direction on the either side of below 16800 or above 17300.
However, we are still with our words that with 16800 as the support level, we are quite bullish on Nifty in the very short term.
Until then stay stock specific and go for the idea of cherry picking strategy with some cautiousness before making any fresh position.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 25.04.22 - 16,953.95
Regards,
Alok Daiya
NIFTY 1DNifty has made indecisive candle on weekly chart .
Cutting high and low of doji will decide the move for further.
For now we will again test fresh lows of 17050
And if sustain below 16800 on strong closing by daily candle road for 16600/16450 will be smooth.
For fresh buying Only buy above 17450 closing on daily basis.Nifty will take resistance at each different coloured trendlines when it will go up.
For intraday trade on price action this is weekly view.
Morning Mantra, 22nd of April 2022Good Morning!
So, as had been stated in the Morning Mantra yesterday, similarly Nifty did take a positive breakout of above 17300.
Well as per the current situation, the level of 16800 will continue to play a crucial role for Nifty’s consolidation phase of around 17000-17300.
Moreover, on witnessing the stock specific momentum in various sectors, the cherry picking strategy will be the most suitable one to be followed.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 21.04.22 - 17392.60
Regards,
Alok Daiya
Morning Mantra, 21st April 2022Good Morning!
Yesterday we had seen a very compact consolidation in Nifty with a positive note of stock specific buying in various sectors.
A perfect bullish harami on the day chart can help the market for a major breakout of 17300 once again.
Considering 16800 as a major support here, the idea of cherry picking will be the best strategy as of now.
Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350
Nifty’s Closing as on 20.04.22 - 17136.55
Regards,
Alok Daiya
