Morning Mantra - 25th July 2023

Dear All,

Just as we had stated yesterday about witnessing a supply pressure from the current levels as a result of the shooting star formation on the weekly chart of Nifty. Likewise the very same was observed in the Market yesterday itself.

For now, the level of 19550 will remain to be the level of support for Nifty. With which, we can continue following the Cherry Picking strategy and Rebalancing of the Portfolio.

Furthermore, now an either side movement of a fresh breakout of above 20000 or a breakdown of 19550 will decide the next move of Nifty.

Till then, Keep Trading, Keep Investing!

Regards,
Alok Daiya
SEBI Registered Research Analyst