Morning Mantra - 16th March 2023

Dear All,

As we had mentioned in our Yesterday's Morning Mantra that Nifty is now ready to taste the level of 16800, the same was accepted by the market itself.

As even after a beautiful gap up opening and a high of 17211.35, Nifty had once again failed to sustain the level of 17180.

Well as of now, we will have to keep patience and watch for the level of 16800 as a support.

Currently, Nifty is under pressure and only a good reversal pattern can now reduce it.

So, tighten your seat belt for these 2 crucial days and be stock specific, until any new positive indication.

Regards,
Alok Daiya
SEBI Registered Research Analyst