Morning Mantra, 16th August 2022

Good Morning!

It is being observed that currently, the index is facing a lot of Resistance at around the stated level of 17700.

As a result of which, the index can take a little pull back here. Also because there are chances that this week can be a little dull for the bullish players. However, even if that happens, do not worry. Since, we are still with our words that the overall market sentiments seems to be positive, as of now. Moreover, on the positive note, lately there has been a significant buying from the FIIs side as well.

In the Meanwhile, it is suggested to be stock specific, to go with the cherry picking strategy and to book partial profit as per your risk appetite, in the stocks that had been accumulated 2-3 Months back and are now generating substantial return.

Nifty Levels 15270-15400-15580-15800
-16200-16350-16800-17200-17400
-17700-17900-18000-18350

Nifty’s Previous Day Closing - 17698.15 (39.15)

Regards,
Alok Daiya