Morning Mantra - 10th August 2023

Dear All,

So finally we have observed the impact of witnessing a closing of above 19550 for 2 consecutive days, just as it was stated. As after those 2 days, Nifty has ultimately given us a positive closing of approx 19632.55 yesterday.

Altogether, the Market is currently in a very choppy mode. Where we can clearly observe the stock specific momentum, which is also due to the ongoing Result season.

So, as per the current scenario, we have to keep a track on the important levels of 19300-19550-19800.

Where, since Nifty is currently trading above the level of 19550, so we can expect it to move towards the level 19800 with the support of 19550 on closing basis. On the other hand, a closing below 19550, will activate the level of 19300 once again.

Therefore, in the meanwhile, be stock specific and keep following the Cherry Picking strategy.

Keep Trading!
Keep Investing!

Regards,
Alok Daiya
SEBI Registered Research Analyst