Morning Mantra, 27th January 2022

Good Morning!

In the last trading session, we did see that the Market was very volatile and as predicted, Nifty did make a bottom at around its stated level of support. Thereby making a low of around 16,836. Moreover, being unable to sustain above its level of Resistance at 17300, the index had given a closing of 17,277 approx.

Well for now, the level of 17300 -17400 will remain to be the crucial level of Resistance. In addition to which, it’ll be required to witness 2 consecutive days of closing of above 17400, for the Market to be in favour. Otherwise, there will still be pre budget fluctuations in the Market.

Stay cautious, stay patient and be stock specific.

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

Regards,
Alok Daiya