Morning Mantra, 23rd August 2022

Good Morning!

Just as we had stated yesterday, similarly we did observe a significant supply in the Market, yesterday itself.

However, we are extremely delighted that we could timely pre-update our viewers & listeners about booking profits in the already accumulated stocks.

As per the current scenario, we can observe the formation of an evening star doji pattern on the weekly chart. So, currently a further weakness in the levels is being expected. Although as of now, we can expect the level of 17300 in Nifty to work as an immediate support on a Day Chart basis. Whereas, the level of 17080 will work as a major support.

Nifty Levels 15270-15400-15580-15800
-16200-16350-16800-17200-17400
-17700-17900-18000-18350

Nifty’s Previous Day Closing - 17490.70 (-267.75)

Regards,
Alok Daiya