Morning Mantra, 10th May 2022

Good 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