Morning Mantra, 23rd December 2022

So, finally yesterday we had witnessed a breakdown from the 18170 level, which altogether is somehow indicating a near term bearish mode in the Market. Wherein we can also see the level of 17800 in the upcoming days.

Besides, we had been consistently stating about Nifty's crucial levels of 18400-18170-17800. When the Index broke the level of 18400, it did take an immediate support at around 18170. But unfortunately once again, the fear factor of COVID has somehow pulled down the Market towards 18127, which is below 18170.

Also, considering the technical parameters, we had kept stating about portfolio rebalancing from time to time, since 1st of December itself, and likewise the results are very much apparent now.

So, as of now 17800 is the support level and we are still with our expectation that the 10-15 days of December will be very crucial for the Market. Therefore, this is the time to wait and watch the Market with patience, to be stock specific and continue rebalancing your portfolio.

Nifty Levels 15270-15400-15580-15800
-16200-16350-16700-17300 -17800
-18100-18350

Nifty’s Previous Day Closing :- 18127.35 (-71.75)

Regards,
Alok Daiya