Morning Mantra - 23rd March 2023

Dear All,

After witnessing a gap up opening in Nifty yesterday, there was a hope that the Index might give us a closing of above 17180. However, unfortunately that did not happen.

Which, therefore, is a clear indication that the level of 17180 is still working as a strong Resistance for the Market.  Furthermore, we are still with our words, that aggressive buying should be avoided, until and unless Nifty gives us a closing of above 17180. As it is only after this breakout, that we can witness a significant uprise.

Besides, we are still positive on the Market for the upcoming 8-9 days.

So, in the meanwhile, keep following the Cherry Picking strategy with the support of 16800.

Regards,
Alok Daiya
SEBI Registered Research Analyst