Morning Mantra, 16th March 2022

Good Morning!

Just as we had stated yesterday, about the probability of witnessing a “false or a suspicious breakout in the indices closing” on the other day. The relevance of the same was clearly evident from the yesterday’s Market session, where even though nifty tried to hold around the level of 16800 for about half a day, but had ultimately failed to do so, and thereby showed us a sharp decline by giving us a closing of 16663.

So, now there will be a requirement of witnessing a stable closing of above 16800, on a weekly basis.

Stay Cautious and be Stock Specific.

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

Regards,
Alok Daiya