Morning Mantra - 17th August 2023
Dear All,
Just as we had stated yesterday about the huge chance of witnessing a bounce back in Nifty, as a result of observing a bullish reversal pattern, named hammer. Likewise the very same was observed yesterday itself. As once again after taking a support at around 19300, i.e., at 19317 Nifty finally gave us a positive closing of 19465.
Well for now, we are still in between the 2 important levels of 19550 and 19300. Besides, Today is the day of weekly settlement, so it will altogether be a crucial day. Furthermore, it will somehow be better to wait and watch for a clear cut indication with an either side movement in the Market.
Consequently, the Conservative Traders can avoid Trading for Today, in order to be on a safer side. Whereas, the Aggressive Traders can take a chance of Cherry Picking with the stop loss of 19300.
On the other hand, even in BankNifty we had got to witness a positive closing of above 43800, i.e., at 43946 yesterday. However, here again we are in between the levels of 44444 and 43800. So, for clarity, it will be better to wait for a clear cut indication with an either movement in the Index.
Keep Trading!
Keep Investing!
Regards,
Alok Daiya
SEBI Registered Research Analyst
Just as we had stated yesterday about the huge chance of witnessing a bounce back in Nifty, as a result of observing a bullish reversal pattern, named hammer. Likewise the very same was observed yesterday itself. As once again after taking a support at around 19300, i.e., at 19317 Nifty finally gave us a positive closing of 19465.
Well for now, we are still in between the 2 important levels of 19550 and 19300. Besides, Today is the day of weekly settlement, so it will altogether be a crucial day. Furthermore, it will somehow be better to wait and watch for a clear cut indication with an either side movement in the Market.
Consequently, the Conservative Traders can avoid Trading for Today, in order to be on a safer side. Whereas, the Aggressive Traders can take a chance of Cherry Picking with the stop loss of 19300.
On the other hand, even in BankNifty we had got to witness a positive closing of above 43800, i.e., at 43946 yesterday. However, here again we are in between the levels of 44444 and 43800. So, for clarity, it will be better to wait for a clear cut indication with an either movement in the Index.
Keep Trading!
Keep Investing!
Regards,
Alok Daiya
SEBI Registered Research Analyst
Disclaimer: alokdaiya.in/disclaimer/
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya
Regards,
Alok Daiya
SEBI Registered Research Analyst
INH000011468
superprofile.bio/alokdaiya
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