Morning Mantra, 2nd May 2022

Good Morning!

As we had stated in the last trading session, similarly we did witness how beautifully the index managed to cross over and trade above its crucial level of Resistance of 17300 for almost the entire day. However, unfortunately, facing the selling pressure in the last 40-45 minutes, resulted in a closing of around 17102.55

Therefore, we can observe the level of difficulty that is being faced by the index to come out of its consolidation phase of 17000-17300.

However, being positive on the index, we are still with our words, that with the immediate support at 16800, 17300 remains to be the crucial level of Resistance for Nifty to cross.

Until then, continue being stock specific.

Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350

Nifty’s Closing as on 29.04.22 - 17102.55

Regards,
Alok Daiya