Morning Mantra, 4th May 2022

Good Morning,

Currently, the Indian Market seems to be waiting for a big IPO.

Meanwhile, on the last trading day, we had observed a gap down opening in the Index, and thereafter also a good recovery had been observed on the same day, itself.

As of now, we are still quite optimistic and can say that with the stop loss of 16800, the index seems to be moving forward to 17300. Besides, after a significant closing of above 17300, Nifty can face a resistance at the level of around 17650.

So until then, be quite cautious and be stock specific.

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

Nifty’s Closing as on 02.05.22 - 17069.10

Regards,
Alok Daiya