Morning Mantra, 14th November 2022

Good Morning!

Just as we had been stating during the previous week, about the overall market sentiments being positive, similarly we did also observe a beautifully positive closing in Nifty on the last trading day, which was around 18349.70 (+321.50).

Well for this week, the formation of a hanging man pattern on the weekly chart of Nifty, is somehow indicating to us that this week can be a little crucial for the market.

Besides, a closing of above 18510 on a weekly basis, will once again be a very crucial event, as the market is very near to its last high.

So, as of now with the weekly support range of 18040-17800, be cautious and be stock specific.

Nifty Levels 15270-15400-15580-15800
-16200-16350-16700-17300 -17800
-18100-18350

Nifty’s Previous Day Closing - 18349.70 (321.50)

Regards,
Alok Daiya