Morning Mantra - 13th July 2023

Dear All,

As Nifty made a low of 19361.75 and a high of 19507.70 yesterday, it is very apparent how Nifty is still confused between the levels of 19300 and 19550, just as we had stated yesterday itself.

Now as the Result season is on, so it is better to be stock specific.

Besides, since today is the day of weekly settlement, so we also have to be quite cautious here, and have to wait for an either side movement in Nifty, i.e., either a breakout of 19550 or breakdown of 19300.

In the meanwhile, keep following the Cherry Picking Strategy with the stop loss of 19300 and 18700.

Regards,
Alok Daiya
SEBI Registered Research Analyst