Morning Mantra, 20th May 2022

Good Morning!

On witnessing a gap down opening and consequently a sharp fall in the entire stock specific zone, yesterday, we found that the Market is in a super volatility zone, as of now. Wherein we can observe a rally from approx 15700-16400 and then again from 16400-15700 approx.

This somehow shows a huge volatility in the mindset of the Market Participants. Although, such kind of volatility is an indication of Market strength from medium to long term perspective.

Moving ahead, we hope you remember about our 2 predicted levels of 15850 and 15580. So, it seems that Nifty is currently trying to create a platform in between these 2 crucial figures, i.e., somewhere around 15700.

Hence, once again it has become very important to get a clear cut indication from Nifty, i.e., a breakout of above 15900 and then of above the next Resistance level of 16400.

Until then, continue following the Cherry Picking strategy and be very stock specific.

Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350

Nifty’s Closing as on 19.05.22 - 15809.40

Regards,
Alok Daiya