Morning Mantra, 17th December 2021

Good Morning!

We are glad to share the accuracy of 8th Club’s Research on the Market.

As just like we had stated yesterday, similarly in the yesterday’s trading session itself, we had witnessed that once again, how after not being able to cross the resistance of 17,360 on the upper side, Nifty had tumbled down to below our stated level of support which was at 17,220. However, not being to sustain at the downside levels as well, Nifty had ultimately given a closing of 17248 approx.

Which altogether indicates the accuracy of our analysis and that the Market is still very much in a super consolidation zone.

Hence, we are still with our words as staying cautious and being stock specific will be the best strategy that can be followed at the moment and until the Market decides for a fresh new direction.

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

Regards,
Alok Daiya