Morning Mantra - 17th April 2023

Dear All,

So, it has been back to back two weeks now, that we have been witnessing the magic of the Morning Star formation on the weekly chart of Nifty.

Moreover, we have observed a V-shaped recovery in the Index, i.e., from 17800 to 16800 and then from 16800 to 17800.

Well as of now, the Index is trading at a very crucial level of 17800. Wherein, at this particular, we can still keep following the Cherry picking strategy with the stop loss of 17300.

Above 17800, our next level of target will be 18170.

In the meanwhile, be a little cautious due to the Result season and start rebalancing your portfolio.

Happy Trading!

Regards,
Alok Daiya
SEBI Registered Research Analyst