Morning Mantra, 2nd January 2023

1 thg 1, 2023

Wish you a very Happy New Year!

This is the first Morning Mantra for the year 2023 and we are here to share with you the Market Sentiments for this week.

Well, on observing the past few days, it can be seen that there’s a fight going on between the levels of 17800 and 18170.

Where on one hand, as we were expecting to witness a positive closing of above 18170 on the last trading day. Unfortunately, we didn’t get such a kind of positive closing from the Market.

While on the other hand, we can now observe the formation of a bullish harami pattern on the weekly chart of Nifty. Which is a good sign.

So, with this bullish pattern, as well as with the support level of 17800, we are still with our positive words, i.e., to continue rebalancing your portfolio as well as to keep following the Cherry Picking Strategy.

Although, it is being expected that for this week too, we can get to witness a sideways momentum in the Market. So, also be a little cautious as of now.

Nifty Levels 15270-15400-15580-15800 
-16200-16350-16700-17300 -17800 
-18100-18350 
 
Nifty’s Previous Day Closing :- 18105.30 (-85.70)

Regards, 
Alok Daiya