Morning Mantra - 26th June 2023

Dear All,

A huge volatility in the Market, was witnessed in the last week. Where, unfortunately once again, Nifty was somehow unable to crossover the level of 18888.

As a result of which, we can now observe the formation of a Dark cloud cover on the weekly chart of Nifty. Which is somehow indicating that we can get to witness some selling pressure in this week.

So much so that, there’s even a probability to witness the level of 18400, which has been a very crucial support level for Nifty, on closing basis.

Therefore, tighten your seat belt and stay cautious against the volatility for this week as well, as it consists of 4 Trading days only.

Regards,
Alok Daiya
SEBI Registered Research Analyst