Morning Mantra - 13th February 2023

Dear All,

As we told you on last Monday, about witnessing the formation of a Piercing Pattern on the weekly chart of Nifty, which was somehow indicating a bounce back in the Market. Fortunately, thereafter, we did witness a beautiful weekly closing of above 17800 in Nifty.

So for now, with the support of 17320, the level of 18170 will be our Resistance level once again.

Furthermore, the impact of the budget and the quarterly results are somehow indicating that there’s a huge probability of witnessing a beautiful rebound in the Market once again, from this level of 17800 towards 18170 and 18400.

So in the meanwhile, along with being stock specific, following the Cherry Picking strategy will be a good idea here.

Regards,
Alok Daiya