Morning Mantra - 11th April 2023

Dear All,

So finally we had witnessed a pause in this small rally of Nifty, yesterday.

Wherein, after making a high of 17694, we had observed a flat closing of around 17624 in Nifty. Which altogether is somehow indicating a supply pressure from the upper levels.

Besides, we are expecting an up-move towards our target level of 17800, which is a very strong Resistance for Nifty, as of now.

Furthermore, we are still with our words to keep following the Cherry Picking Strategy for now, with the support of 17300.

Regards,
Alok Daiya
SEBI Registered Research Analyst