Morning Mantra - 3rd August 2023

Dear All,

So Finally we had witnessed a breakdown of 19550 in Nifty.

But, since it is a very minute closing of below 19550, therefore we have to wait for 1 more day for Nifty to decide its move.

Furthermore, on observing a hammer formation on the Day chart of Nifty, we are now expecting to witness a little selling pressure in the first half and then a little positive momentum in the later half, Today.

Apart from all this, it is better to keep patience for another day and let Nifty decide its next move.

In the meanwhile, we hope that you had already booked profits, as we have been repeatedly suggesting about Rebalancing your Portfolio.

Also, it is a good time to keep following the Cherry Picking strategy, however, avoid going for over exposure.

Keep Investing!
Keep Trading!

Regards,
Alok Daiya
SEBI Registered Research Analyst