Morning Mantra - 6th April 2023

Dear All,

As of now, we can clearly observe the effectiveness of the Morning Star formation, as even yesterday we got to witness a beautiful and a positive momentum in Nifty. Wherein, the index is now beautifully trading above the 17420 level, which is altogether a good sign.

Moreover, our 2 important stated levels of 17300 and 17180 are once again showing their importance in regards to Nifty’s momentum. Wherein, above 17300 we are quite bullish on Nifty, for the target of 17800, once again.

Besides, currently we can see a positive performance from the Market across the different sectors, so following the Cherry Picking strategy still remains to be a good idea here.

Overall, as of now, with the stop loss of 17300, the level of 17800 will once again be a very strong Resistance for the Market.

Regards,
Alok Daiya
SEBI Registered Research Analyst