alokdaiya

alokdaiya

So, finally on the last trading day (Friday) we had observed a closing of above our stated crucial Resistance level of 18500. However, since this closing of just above the stated level is somehow not enough to conclude as of now. Therefore, it will be suggested to wait for another 1 or 2 trading days for a much positive and stable closing of above 18500. So...

alokdaiya

Just as we had stated on the 21st of November 2022 itself, about the probability of Nifty achieving its target of 18500. Similarly, it was finally yesterday that Nifty managed to not only achieve this stated target level, but did also make a 52 week high of 18529.70, along with an all time high closing of 18484.10. Moreover, since today is the last trading day of...

alokdaiya

Since we have been observing that from the last 2 days, Nifty has been trading in a consolidation zone, thereby let us consider today as a No Trade Day! Moreover, since today is the monthly expiry, so let us wait and watch for a clear cut indication from the Market. Nifty Levels 15270-15400-15580-15800  -16200-16350-16700-17300 -17800  -18100-18350   ...

alokdaiya

Just as we had stated yesterday about the positive sentimental rally towards the level of 18500, similarly we could also observe a healthy closing in Nifty with a positive 84.25 points, yesterday. On a positive note, we can now observe a beautiful bullish harami formation on the day chart of Nifty, along with a Doji formation on the weekly chart (as of now) ....

alokdaiya

A Gap down opening along with a few doji formations on yesterday's hourly chart, has been a clear indication of the indecisive mode of the Market. Wherein, we had clearly seen a beautiful rally in the PSU Banks, which has somehow proven being stock specific, as absolutely correct. So, altogether we are still with our words that with the support level of 17800...

alokdaiya

Just as we had been stating in the previous week about being cautious, similarly we did observe Nifty to be in a consolidation phase during the previous week. Well, for now, in a minor downtrend, we can observe a beautiful hammer formation on the Daily chart of Nifty. Which is somehow indicating that the Index can bounce from here and can reach up to the level...

alokdaiya

So, once again we can observe a Doji formation on the Daily chart of Nifty, which however is indicating a fight between the demand and supply and a state of confusion in the market regarding the indices next move. Besides, just as we had stated in the beginning of this week, about the hanging man formation which was indicating a weakness in the market, as per...

alokdaiya

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...

alokdaiya

Good Morning, We are glad that we could pre-update you about being cautious, after having witnessed the formation of a hanging man pattern on the weekly chart of Nifty. Since, yesterday itself we had witnessed that somehow even after Nifty's attempt of a beautiful gap up opening, we ultimately got to witness a supply pressure at the upper levels, towards the...

alokdaiya

Good Morning! Just as we had been stating during the previous week, about the overall market sentiments being positive, similarly we did also observe a beautifully positive closing in Nifty on the last trading day, which was around 18349.70 (+321.50). Well for this week, the formation of a hanging man pattern on the weekly chart of Nifty, is somehow indicating...

alokdaiya

Just as we had stated yesterday, about the doji formation on the day and weekly chart pattern and about its indication for cautiousness. Likewise, we witnessed the same in yesterday's trading session itself. Where even after a beautiful gap up opening in Nifty we had observed a significant supply pressure in the Market. However, the overall market sentiments...

alokdaiya

Good Morning! On observing the current chart setup, we can clearly see the formation of a Doji pattern, both on the daily as well as on the weekly chart. Which is somehow indicating cautiousness among the Market participants. So, as of now it will be better to suggest to be stock specific with the stated support level of 17800 on closing basis. Apart from...

alokdaiya

Good Morning, Just as we have been stating that above the level of 17800, Nifty is ready for a new high. Likewise, we are witnessing the same. As so far, after crossing over the stated level, Nifty has beautifully managed to achieve its target of 18100. Also, somehow the good corporate numbers have been supporting the Market sentiments. So with this and with...

alokdaiya

Good Morning, Currently, we can observe a Cautious signal from Nifty on day basis, along with which observing selling pressure on the upper level is quite natural and that's why we call it a "Market". Besides, the level of 18040 is an immediate support level on the day chart followed by 17800 on weekly chart. So, with these stated support levels be stock...

alokdaiya

Good Morning! So Finally Nifty has beautifully achieved our predicted Target of 18100 on a closing basis, yesterday. Well as of now, with the stop loss of 17800, Nifty is ready for a new high very soon. Which is somehow quite supported by good and positive corporate numbers. So, Cheer Up, be positive and be stock specific. Nifty Levels...

alokdaiya

Just in accordance to our expectations, Nifty has finally taken a beautiful breakout from its crucial Resistance level of 17800, and has successfully managed to enter in its 18s (18000) once again. However, today’s closing will play an important role, as we will wait and watch for another day’s consecutive closing of above 17800. 18100 will be our next target...

alokdaiya

Just as it we had stated yesterday about it being a good sign if Nifty manages to cross over the 17800 level on closing basis. Similarly, we did observe a beautiful attempt taken by Nifty as it made a high of around 17783, but unfortunately it somehow failed to cross over the same. Also, as we had stated about our expectations on witnessing volatility in the...

alokdaiya

Just as we had stated on the last trading day, similarly we can observe that the festival mood is still on. Moreover, since it's a weekly clearing day today, we have to be a little cautious as some volatility can be expected in the Market. Besides, as per the current chart setup, with the support of 17270, if Nifty manages to cross over and sustain above the...