Morning Mantra, 28th December 2021

Good Morning!

In adherence to our notion of expecting a stable closing of above the level of 17000, we can say that even after witnessing the index trading in the range of 16800-17000 for the almost the entire day, yesterday, Nifty had once again shown us a beautiful bounce back and had fortunately given a closing of above 17000.

Hence, this is more of a “No Comment Zone” currently, as Nifty is still persistent in trading in a super consolidation zone.

Besides, as of now, the levels of Resistance remains to be the same, i.e., at 17220 and 17366 respectively. As also, the support level will continue to be at 16970.

Moreover, as the remaining of the December days seem crucial, we are still with our suggestion to stay cautious for this last week of December and to keep following the Cherry Picking strategies, along with staying Stock Specific, as of now.

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

Regards,
Alok Daiya