Morning Mantra, 23rd September 2022

Good Morning!

As per what we had stated yesterday, we did observe Nifty’s attempt to take a bounce back, in the early and in the later hours of the Market yesterday itself. However on repeatedly failing to do so, we instead observed some selling pressure in the Market.

Well as of now, we can see the formation of a Doji pattern on the Day chart. So, it will be better to consider today as a no trade day. In the Meanwhile, we can wait and watch for the index to decide for a specific either side direction from its range of 17300-18090.

Until then stay cautious and be stock specific.

Nifty Levels 15270-15400-15580-15800
-16200-16350-16700-17300 -17800
-18100-18350

Nifty’s Previous Day Closing - 17629.80 (-88.55)

Regards,
Alok Daiya