Morning Mantra - 19th April 2023

Dear All,

Just as we had stated yesterday itself, similarly following the impact of the Bearish Engulfing pattern, we did once again witness a supply pressure at the upper levels in Nifty, yesterday.

Wherein, even after a gap up opening, we had witnessed a lower closing of around 17660. So, ultimately it’s a very crucial situation in the Market as of now. Wherein Nifty is trading in between the levels of 17800 and 17300.

So for the aggressive players, following the Cherry picking strategy will be a good idea here. While on the other hand, for the conservative players, a breakout of 17800 level will play an important role.

Furthermore, to identify your risk profile (aggressive/conservative), you can consult your personal Financial Advisor.

Regards,
Alok Daiya
SEBI Registered Research Analyst