Morning Mantra - 30th June 2023

Dear All,

So finally we have witnessed a beautiful closing of above 18888, i.e., at 18972 in Nifty, on the previous trading day of this week.

So now our next target is of 19200. Wherein, as per the current scenario we are very much optimistic on Nifty for achieving this Target by today itself.

Moreover, as every event has two sides, i.e., a positive and a negative one. So, on the one hand, we can achieve our expected target of 19200 by today. On the other hand, it is very necessary for us to become cautious here at the upper level. As a Fresh New High, can somehow trigger a supply pressure here.

Last but not the least, just as we had stated earlier, upon witnessing a closing of above 18888, we can now uplift our stop loss levels from 18400-18200 to 18700-18400, and follow the Cherry picking strategy with the support of the same.

Regards,
Alok Daiya
SEBI Registered Research Analyst