Morning Mantra - 6th February 2023

Dear All,

Finally we got to witness a beautiful week.

Moreover, just as we had stated earlier that support = resistance and resistance = support, similarly, the level of 17800 which was earlier a Support is now a level of Resistance for the Market, which was beautifully achieved by Nifty on last Friday.

As of now, on a weekly basis we can observe a Piercing Pattern on the chart, at around our stated level of 17320, which was altogether a good indicator.

Furthermore, for this week the level of 18170 will work as a strong Resistance for the Market once again. Above which, we can witness the level of 18400 in the near term, with the support of 17320.

Also, continue being stock specific as of now.

Regards,
Alok Daiya