Morning Mantra, 27th May 2022

Good Morning!

Just as we had stated about the expectation of a bounce back in our Morning Mantra updates yesterday. Similarly, in the last 3 trading hours of the day, we did see a recovery in the index of around 200 points from the day’s low.

Well for today, as per the weekly and day chart setup we can still keep up our expectations for some further recovery in the Index. Wherein, on the upper side, the level of 16400 will remain to be the initial level of Resistance for the Market.

So, continue being stock specific as of now.

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

Nifty’s Closing as on 26.05.22 - 16170.15

Regards,
Alok Daiya