Morning Mantra 17th November 2021

Good Morning,

Currently, the Market seems to be in a super consolidation zone. Where it appears to be confused within the range of 18088-17900-17700. But, still we hold a belief on our observation that somehow the Market seems to be creating a platform in between the levels of 17700-17900.

Moreover, as we had also suggested earlier, in our Morning Mantra, that the level of 17700 will be a crucial support on the closing basis for Nifty. Hence, we are still with our words that cherry picking will be a good idea here, when the index tends to reach around the levels of 17700-17900. On the other hand, Sell on Rise will be a good strategy to be followed, when the index comes around 18200-18300.

Happy Trading with 8th Club!

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

Regards,
Alok Daiya