Morning Mantra - 16th June 2023

Dear All,

Just as we had stated yesterday about considering the Day as a “No Trade Day”, Likewise we did also witness a lot of volatility in the Market yesterday. Wherein, a major supply pressure was witnessed in the Banking Sector.

Therefore overall, a tough fight between the bull and the bear, is being observed here at the upper levels.

A positive buying number from FII on the one hand, and on the other hand, the supply pressure that is being observed in the Market is somehow indicating that the Market Players are Rebalancing their Portfolio here.

So, be cautious and keep rebalancing your portfolio at the current levels.

Last but not the least, the Market Sentiments are still positive for a New High, with the stop loss of 18400.

Regards,
Alok Daiya
SEBI Registered Research Analyst

Commento:

Yippee! Our Morning Mantra has been proven to be on point once again!!!!
As Nifty has finally made its Fresh New high of 19011.25, dated : 28th June 2023