Morning Mantra - 22nd March 2023

Dear All,

Almost after 8 trading days, we have finally witnessed a beautiful green candle on the chart of Nifty. This however, can be the outcome of the last 3 candles, i.e., back to back 2 doji patterns followed by a hammer pattern formation.

Moreover, after witnessing a beautiful closing of 17107.50 yesterday, we are somehow still under the required Resistance level of 17180. Wherein, it is only above this level, that we can be aggressive in the Market once again, with the stop loss of 16800.

Furthermore, we are very optimistic on the Market for the upcoming 8-9 days, as we have seen how Nifty has been taking beautiful support from around our stated support level of 16800.

So for now, continue following the Cherry Picking strategy.

Also, wish you all a very happy Gudi Padwa, Hindu Nav Varsh and Happy Navratri.

Regards,
Alok Daiya
SEBI Registered Research Analyst