Morning Mantra, 11th August 2022

Good Morning,

The level of 17700 now becomes our next expected resistance level in Nifty.

Besides, an upcoming long weekend in the Indian Market can somehow create a pressure on the stocks now. So, if in case there is any gap up opening, then we must use the opportunity to go for profit booking in the already accumulated stocks that are generating some return now.

Moreover, we are still with our words that Nifty seems to be positive in the medium to long term, and that we can witness a New high by this Diwali.

Therefore until then, stay stock specific and continue following the Cherry Picking & Sell on Rise strategy, as of now.

Nifty Levels 15270-15400-15580-15800
-16200-16350-16800-17200-17400
-17700-17900-18000-18350

Nifty’s Previous Day Closing - 17534.75 (9.65)

Regards,
Alok Daiya