Morning Mantra, 2nd September 2022

We hope you remember our Morning Mantra update on Monday, where we had clearly stated about our expectation for a cautious week ahead. Similarly, we have been observing the same, since we saw a major decline on Monday itself, followed by a major upside on Tuesday. A holiday on Wednesday and then again a major decline on a Thursday. And now we are ready for a crucial Friday.

Well as per the ongoing scenario, most of the stocks seem to be trading at around their resistance levels.

Further, Nifty repeatedly seems to be taking a beautiful support at around the level of 17300. So, keeping this level in mind, consolidation can be faced in the Market.

However, it has been observed that even in the midst of such a situation of consolidation, cherry picking strategy has its own strength.

So, stay stock specific and keep following the Cherry Picking Strategy, as of now.

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

Nifty’s Previous Day Closing - 17542.80 (-216.50)

Regards,
Alok Daiya