Morning Mantra - 7th February, 2023

Dear All,

On observing yesterday’s market momentum, where Nifty had made a high of 17823.70 but had somehow failed to sustain above the level due to selling pressure. We can altogether see how crucial is the level of 17800 for the Market.

Once again, Nifty seems to be finding difficulty to stably cross over the stated Resistance level of 17800.

Moreover, on observing the formation of a bearish harami pattern on the day chart of Nifty, we can sense a little cautiousness in the Market for today.

Nonetheless, we are still positively hopeful for the Market with the support of 17320.

Thus in the meanwhile, stay cautious and be stock specific for now.

Regards,
Alok Daiya