Morning Mantra, 7th March 2022

Good Morning!

Just as we had been stating about the necessity of Nifty giving a closing of above 16800. Similarly, we did see how on failing to do so, the index had once again shown us the level of 16245 approx.

However, as per the chart setup, we are now expecting to witness a bounce back towards 16800. Which if happens, then the consequences will be good. Otherwise, if the index fails to sustain above 16200 for these 2 days (i.e., Today and Tomorrow) then the levels of 15850 and 15580 on the downside will become active once again.

Until then Keep Patience and Stay Cautious!

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

Regards,
Alok Daiya