Morning Mantra - 8th June 2023

Dear All,

After lots of Doji formation, we have now finally observed a bullish candle on the chart of Nifty. So, as of now it seems that we are very near to witnessing a new high.

Yes, it’s a crucial stage for every Trader & Investor. So, apart from being happy we also have to be a little cautious here. As at a New High, it somehow becomes the matter of a Psychological Effect, wherein even a selling pressure can be observed in such a situation.

Although, the best part is that we have already been stating to keep Rebalancing your Portfolio since 1-2 weeks, because it is good to do so at any major event like New High, Budget etc

Overall, as of now, be cautious, keep rebalancing your portfolio and keep following the Cherry Picking strategy with an immediate stop loss of 18400 and 18200.

Regards,
Alok Daiya
SEBI Registered Research Analyst