Morning Mantra, 31st of January 2022

Good Morning!

As we have been stating that in order to witness some favourable situations in the Market, we need a stable closing of above 17300-17400. Unfortunately, even after making a high at around 17373, the index gave a Flat closing on last Friday, on facing a supply pressure at its Resistance.

Moving ahead, as Today is the last day before the Budget gets announced Tomorrow. So, we can expect these 2 days (i.e., 31st of Jan & 1st of Feb) to be very crucial for the Market.

Hence, the low risk appetite traders can avoid entering into any trades for these 2 days. Whereas, the others can enter trade as per their own risk appetite. However, for the purpose of capital protection, it will be suggested to avoid entering into any trade for the better. Rather, take some time to understand the budget and then enter the Market following the stock specific methodology.

Moreover, high fluctuations in the Market are being expected for the Day. So Stay Cautious!

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

Regards,
Alok Daiya