Morning Mantra, 15th November 2022

Good Morning,

We are glad that we could pre-update you about being cautious, after having witnessed the formation of a hanging man pattern on the weekly chart of Nifty.

Since, yesterday itself we had witnessed that somehow even after Nifty's attempt of a beautiful gap up opening, we ultimately got to witness a supply pressure at the upper levels, towards the end of the day. Thereby, proving our expectations to be on point once again.

While, on the other hand, we did also observe a good stock specific momentum in the Market, yesterday.

So, as of now, with the stated support levels of 18040-17800 continue being stock specific until Nifty gets ready to make a closing of above 18510.

Nifty Levels 15270-15400-15580-15800 
-16200-16350-16700-17300 -17800 
-18100-18350 
 
Nifty’s Previous Day Closing - 18329.15 (-20.55)

Regards, 
Alok Daiya