Morning Mantra, 27th September 2022

Good Morning!

Yet another day of panic, where after a gap down opening yesterday, Nifty tried to take a support at 17000 with the beautiful attempt in the second half for 17200. But unfortunately failed in the last hour.

Also a panic selling in across all the sectors was witnessed except in IT. Which is clearly indicating price correction. Moreover, against all the negative news, there was a positive factor that was observed in the Market yesterday, and that was the DII buying.

In addition to the above, as per the current chart setup, the level of 17270 will now play a crucial role as a Resistance. While on the other hand, on a positive note we are expecting a bounce back at this current level of 17000 in Nifty.

So, avoid any panic reaction, as of now.

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

Nifty’s Previous Day Closing - 17016.30 (-311.05)

Regards,
Alok Daiya