Morning Mantra - 12th May 2023

Dear All,

Just as we had already stated yesterday about being cautious. Similarly, we did witness a supply pressure in the Market yesterday itself.

However, on a positive note we had still witnessed a closing of above 18200.

Since today is the last trading day of this week, let’s keep our fingers crossed for a positive and a stable weekly closing of above 18200. As only after that, we can expect some further positive momentum in Nifty in the forthcoming days.

So, for today with the support level of 17800, keep rebalancing your portfolio and wait and watch for a positive weekly closing.

Regards,
Alok Daiya
SEBI Registered Research Analyst