Morning Mantra, 2nd December 2021

Good Morning,

Just as we have been stating in our Morning Mantra updates, similarly we can see that Nifty still seems to trade in a range bound zone. Neither is it being able to break through the stated levels of support, nor is it crossing its levels of resistance.

So, it will still be suggested to stay cautious until the index gives a positive closing of above 17360. And until then, aggressive buying must be avoided.

In fact, following the “Cherry Picking” strategy and staying Stock Specific will be a better idea here.

To state once again, 17360 will now be a level of resistance for the Market and 16800-16700 still remains to be a crucial support zone.

Nifty Levels 15580-15800-16200-16350
-16800-17200-17400-17700-17900-18000-18350

Regards,
Alok Daiya