Morning Mantra, 14th February 2022

Good Morning!

Once Again on Friday we witnessed a gap down opening in the Market, which happened to continue till the end of the day. Thereby highlighting the importance of the 17,650 level. Where on being unable to cross over it, Nifty clearly took a downturn making a low of 17303, that is around our predicted support level.

Hence, we can say that at this crucial time the Market seems to be critically moving within its consolidated range of 17650-17300. Wherein, now we highly need to witness a clear indication from the market about it to either break down or cross over the predicted levels.

However, we can presume the mixed pack of corporate results to be responsible for such a consolidation. Besides, we are still with our words to be stock specific and to follow the Cherry Picking strategy here, as a cautious move.

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

Regards,
Alok Daiya