Morning Mantra - 12th June 2023

Dear All,

Once again our Morning Mantra update was proven to be absolutely on point on the last Friday. Wherein, as stated a significant Bearish Engulfing pattern on the chart of Nifty on Thursday, had clearly shown the expected fall in the Market on Friday itself.

So, as per the current situation we can see a beautiful shooting star pattern on the chart of Nifty. Yes, “Beautiful” for the Bears, as after Nov-Dec 2022, we can once again observe a supply pressure around this level of 18800 approx.

Furthermore, it can be observed that Nifty is facing a lot of difficulty to make a New High. But still we are positive on the Market for witnessing a New High, until the time the index is trading above the level of 18400.

Besides, in the meanwhile, it is a good time for Portfolio Rebalancing. As whenever we face such kind of Resistance on the upper levels, we must look into our Portfolio and work upon it as per our Personal Financial Advisor.

Keep Trading!
Keep Investing!

Regards,
Alok Daiya
SEBI Registered Research Analyst

Commentaire:

Yippee! Our Morning Mantra has been proven to be on point once again!!!!
As Nifty has finally made its Fresh New high of 19011.25, dated : 28th June 2023