Morning Mantra, 2nd June 2022

Good Morning!

Once again a beautiful stock specific momentum was witnessed in the Market, yesterday.

Although, we have already stated that this week will be a little crucial as well as important for the Market.

As it can be observed that Nifty is facing a lot of Resistance at around the level of 16700, a closing of above this level for the remaining days of the week, will be a very good sign for the Market. Whereas, on the other hand, the level of 16400 on the downside remains to be a strong level of support.

In the meanwhile, as of now, continue being stock specific and begin following the Cherry Picking Strategy.

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

Nifty’s Closing as on 01.06.22 - 16522.75

Regards,
Alok Daiya