Morning Mantra, 11th May 2022

Good Morning!

Just as we had stated yesterday, about the chances of the Index taking a bounce back, similarly we did witness the same for almost the entire day, except for the last 40 minutes of the Yesterday’s Trading session.

Certainly it was during the last 30-40 minutes of the Trading session, that the Index took a sharp fall from the day’s high of around 16404. Thereby, coming back to the Red Zone.

Therefore, again it’s a very crucial time for us, where once again, there’s a need to wait and watch for the either side of a stable movement from the Index, i.e., of above its Resistance level of 16400 on the upper side or down through the support level of 15850.

Until then stay cautious and 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 10.05.22 - 16240.05

Regards,
Alok Daiya