Morning Mantra, 18th May 2022

Good Morning!

What a beautiful day it was Yesterday!

Where Nifty had finally managed to cross over its level of Resistance of 15900. Following which we did clearly witness the strength in Nifty as well as a beautiful stock specific momentum in the Market.

Also, a very sharp recovery was witnessed in almost all the sectors. Moving ahead, as of now, we know that the level of 16400 on the upper side will play as a crucial level of Resistance for Nifty, and on the other hand a very short term support of 15850 on the downside.

Hence, keeping this in mind, continue being stock specific and cherry picking strategy can be a good idea here.

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

Nifty’s Closing as on 17.05.22 - 16259.30

Regards,
Alok Daiya