Morning Mantra, 16th June 2022

Good Morning!

It has been 3 Consecutive Days now, that Nifty has been trading in a strict consolidated range of 15950-15580. Which is why, we can say how highly confused the Index is currently.

Therefore, it has now become very important to witness either a breakout of above 15950 or a breakdown through the support level of 15580, on a closing basis. However, as per the current chart setup, we are still quite positive on the Market.

Moreover, we are still with our words, that Today & Tomorrow will be very crucial for the Market. In addition to which, it is being expected that we might witness a huge volatility in the Market today, since it is a weekly settlement day.

So stay cautious, as of now!

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

Nifty’s Previous Day Closing - 15692.15

Regards,
Alok Daiya