Morning Mantra, 19th May 2022

Good Morning!

Even after making a high of 16399.80, Nifty somehow failed to cross the predicted level of Resistance of 16400 by .20 points only. Due to which we could see a selling pressure in the Market.

However, this selling pressure might continue till the level of 15850 on the downside. So it is very important to wait for a clear cut indication after the Market crosses 16400. Moreover, as of now, 15850-15900 will work as a support zone for the Market.

Until then, keep following the cherry picking strategy and be stock specific.

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

Nifty’s Closing as on 18.05.22 - 16240.30

Regards,
Alok Daiya