Morning Mantra - 28th July 2023

Dear All,

Just as we had stated yesterday, about our expectation of witnessing a selling pressure. Likewise the same was observed in the Market yesterday itself.

Moreover, yesterday Nifty made a low of 19603, which was somehow very near to our stated support level of 19550 (with a difference of only 50 points approx).

Furthermore, since today is the last trading of the week, therefore we have to be quite cautious. As once again, there’s a probability of witnessing some supply pressure in the Market.

Last but not the least, as of now it will be very important for us to witness a closing of above 19550 in Nifty.

Regards,
Alok Daiya
SEBI Registered Research Analyst