Morning Mantra - 2nd May 2023

Dear All,

A New Start of the Month with a New and Fresh Bullish Reversal Pattern on the Monthly Chart of Nifty, i.e., Morning Star Doji, is somehow indicating that Nifty can cross the previous all time high of 18887.60 in the upcoming days.

On observing the day chart, Nifty has successfully crossed its neckline of 17800 level. While on the Weekly chart, we can say that this breakout of above 17800 level can now lead Market to 18200 level.

Furthermore, as per the Exclusive analysis we can observe that most of the stocks are now having a positive chart setup. So altogether we can say that there’s a positive sentiment in the Market, as of now.

Overall, there’s a big thumbs up for Fresh Investment, subject to your risk appetite.

Keep Investing!
Happy Trading!

Regards,
Alok Daiya
SEBI Registered Research Analyst