A range bound trading
session gas ended on negative note. Markets ended Wednesday’s choppy
session with losses after registering gains for three consecutive days amid
selling in banking and financial services counters. Investor
sentiment also took a hit on weak global cues. The Sensex closed at 39757. The
Nifty settled at 11906, down 59 points. The Sensex touched an
intra-day low of 39623 levels while the Nifty drifted to 11866 levels during
the day before staging a partial recovery.
Nifty is still in a consolidation range and support lies around 11840 -11790 levels. Going ahead, this support zone would be closely watched by the investors. A sustainable move below this would result into an extended correction. However, in my sense, Nifty would probably move higher and immediate resistance is now placed in the zone of 11940 - 11975 levels.
Nifty is still in a consolidation range and support lies around 11840 -11790 levels. Going ahead, this support zone would be closely watched by the investors. A sustainable move below this would result into an extended correction. However, in my sense, Nifty would probably move higher and immediate resistance is now placed in the zone of 11940 - 11975 levels.
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Resistance: 11940, 11975, 12000
Support: 11840, 11790, 11740
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