Morning Mantra, 13th December 2022

What a day it was Yesterday!

Where, beginning with the gap down opening at around 18402, the Index gradually created a little panic when it made a low of around 18345, during the initial Market hours.

However, once again signifying the Importance of the stated support level of 18400, the Index showed a beautiful recovery, first by making a high of 18521 approx and then by ultimately giving a closing of around 18497.

Although the closing is somehow a clear indication of the indecisive condition of the Market. Since for the 2 consecutive trading days we have witnessed a closing of around 18500.

Observing the current Market scenario, it will be a better option, to avoid panicking and instead wait and watch the Market's momentum, with the support levels of 18400 and 17800, as of now.

In the meantime, continue being stock specific.

Nifty Levels 15270-15400-15580-15800 
-16200-16350-16700-17300 -17800 
-18100-18350 
 
Nifty’s Previous Day Closing - 18497.15 (+0.55)

Regards, 
Alok Daiya