Morning Mantra, 18th October 2022

Good Morning!

Finally yesterday we got to witness a beautiful breakout of 17270 in Nifty. After which we ultimately got a successful closing of around 17300.

Indeed, this is a good news for us.
However, keeping in mind about the Diwali holidays, we have to be a little cautious currently. Where according to the current market sentiments, we have to be stock specific, with the support of 17270 followed by 16940.

After which, if the index consistently manages to sustain above the level of 17270 on closing basis, then just as we have already stated, we can see a sharp rally in the upcoming days.

Nifty Levels 15270-15400-15580-15800
-16200-16350-16700-17300 -17800
-18100-18350

Nifty’s Previous Day Closing - 17311.80 (126.10)

Regards,
Alok Daiya