Morning Mantra, 12th August 2022

12 באוג׳ 2022

Good Morning,

Just as we had stated yesterday, similarly we did witness a gap up opening in Nifty, yesterday itself. Wherein, Nifty did manage to cross over above its stated Resistance level of 17700, but somehow couldn’t sustain above it on a closing basis.

Moreover, along with the Index most of the stocks can be found near their respective Resistance levels, as of now. Which altogether is somehow indicating that a little profit booking can be witnessed. Which in turn will be healthy for the Market.

Also, we have a long holiday weekend coming ahead. Therefore, keep following the Sell on Rise strategy to book profits in those stocks that had been accumulated during the last 2-3 Months are are now generating some return.

Nifty Levels 15270-15400-15580-15800
-16200-16350-16800-17200-17400
-17700-17900-18000-18350

Nifty’s Previous Day Closing - 17659 (124.25)

Regards,
Alok Daiya