Morning Mantra - 21st April 2023

Dear All,

Yesterday we had seen the effect of the Hammer pattern, as we had observed a beautiful start in the Market. But unfortunately since it was a day of weekly settlement, we had to witness a roller coaster day.

Well, this fight between the demand and supply has created a kind of Doji pattern on the chart of Nifty. Besides, as today is the last trading day of this week, so we have to be a little cautious.

As, even yesterday there was no clear indication from the Index, regarding its next move.

Therefore, once again the level of 17800 will play a crucial role as a Resistance and 17300 will remain to be a level of strong support.

Regards,
Alok Daiya
SEBI Registered Research Analyst