Morning Mantra, 24th December 2021

24 ธ.ค. 2021

Good Morning!

Just as we had very clearly stated in our Morning Mantra update yesterday, that it’ll be a good sign for the Market, if somehow Nifty manages to sustain above the level of 17000 for the first 2 hours of the Market. Fortunately, we did very well witness it yesterday itself, that after consolidating for almost 6 hours, the index was successful in sustaining above the level of 17000 and in support of it, had also given us a closing of above the stated level.

Moreover, as the index had somehow traded in a consolidated zone for almost the entire day, hence we can say that now the support zone of Nifty will also shift upwards, i.e., at around the level of 16970. Wherefrom, now the expected targeted levels of resistance for Nifty will be around 17220 and 17366 respectively.

In addition to this, as the days are crucial, we are still with our suggestion to stay cautious for the Month of December and to keep following the Cherry Picking strategies, as of now.

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

Regards,
Alok Daiya