Morning Mantra, 14th March 2022

Good Morning!

Witnessing the indices closing for the last 3 consecutive days, we can say that the requirement of getting a stable closing of above 16200 was very well met by the index, and which altogether was a good sign.

However, on broadening the focus of our view, we can clearly see that Nifty is still somehow very confused and is struggling between the range of 16800-16200. Where, on one hand, the index is somehow managing to not break its support level of 16200. On the other hand, it is also not very successful in stably crossing over 16800, on a closing basis.

So, here’s an area of concern. As, in order to witness the situations in favour of the bulls, it has now become very important for the index to stably cross over its level of Resistance of 16800, on a closing basis.

Until then, Staying Stock Specific and following the Cherry Picking Strategy can be of help for the upcoming days.

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

Regards,
Alok Daiya