Morning Mantra - 23rd May 2023

Dear All,

Just as we had stated in our Morning Mantra update yesterday, regarding the probability of witnessing a reversal from 18200. Likewise, the same was observed yesterday itself, as taking a beautiful support at 18200, Nifty had showed us a beautiful recovery.

Well, after observing the formation of a Long-Legged Doji, we can now observe the formation of a Morning Star Doji pattern on the Day chart of Nifty - which is altogether a good sign for the Market.

Furthermore, we are expecting that above 18200, the market can perform well in the upcoming month of June. So, with the support level of 17800 on weekly basis, get ready for a new high in the upcoming days.

Until then, can follow the Cherry Picking strategy.

Regards,
Alok Daiya
SEBI Registered Research Analyst

تعليق:

Yippee! Our Morning Mantra has been proven to be on point once again!!!!
As Nifty has finally made its Fresh New high of 19011.25, dated : 28th June 2023