Morning Mantra, 26th November 2021

Good Morning,

In accordance to our predicted levels of support of 17454 and 17360, we can clearly witness how the Index has been unable to break the aforementioned levels, on a closing basis, for the last 2 consecutive trading days, and in fact have shown a good bounce back therefrom. Hence, depicting the importance of the stated levels.

On the other hand, as a matter of concern, it’ll be suggested to follow the Sell on Rise strategy and to stay stock specific, until we witness a healthy closing of above 17650.

Just as we have been stating, and similarly we are still with our words that the Market is somehow being expected to stay in a consolidation mode, till the month of December. So, it will be suggested to stay Stock Specific. Moreover, on the downside, the level of 17360 will still be considered as a crucial level of support.

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

Regards,
Alok Daiya