Morning Mantra - 15th February 2023

Dear All,

Fortunately after yesterday’s trading session, we have once again witnessed a positive closing of 17929.85 from Nifty.

Wherein, notably the index had taken a very beautiful support from our crucial stated level of 17800, yesterday.

The same stated level of 17800, which is repeatedly playing a very significant role as a Resistance and a Support for quite some time now. Thereby, proving our notion to be absolutely on point, i.e.,
Resistance = Support = Resistance

However, for now, we are still with our words that we need to witness a stable and a consistent closing of above 17800 for at least a week. As it is only then, that we may get a clear confirmation from Nifty regarding its decision to move towards the upper Resistance levels of 18170 and 18400.

Besides, as per the current market momentum, the support level of 17320 now seems to be shifting to 17800.

In the meanwhile, continue being stock specific and keep following the Cherry Picking strategy.

Regards,
Alok Daiya