Morning Mantra - 9th May 2023

Dear All,

So yesterday Nifty reacted just opposite to its previous pattern, which means that in the presence of a shooting star formation it showed a beautiful uprise of approx 200 points. Which altogether lead Nifty to give a positive closing of above 18200.

But as of now Nifty is on the edge of its Previous week’s high. So, still we have to wait and watch for a weekly closing of above 18200.

Meanwhile, with the support level of 17800, Portfolio Rebalancing will be a good idea here.

Regards,
Alok Daiya
SEBI Registered Research Analyst