Morning Mantra, 8th March 2022

Good Morning!

Just as we had much clearly stated in yesterday’s Morning Mantra, that if Nifty fails to sustain above the level of 16200, then we can expect the levels of 15850 and 15580 to become active once again.

Similarly, we did witness that after a gap down opening at around 15867 yesterday, nifty had ultimately given us a closing at around its predicted level of support of 15850 (i.e., 15863 approx).

Moreover, as per our past experience, it seems that the worst is over now. So, Cherry picking will be a good idea at this level. However, we will be more aggressive in the market once after we witness a stable closing of above 16200.

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

Regards,
Alok Daiya