A weak trading sentiment across the globe, and concerns over infrastructure output data for November -- due later in the day -- pushed investors towards profit-booking on the last trading day of calendar year 2019. The Sensex settled at 41253 level, down 304 points. the Nifty index held the 12150-mark to close at 12168 –level.
Nifty has been making higher highs and lows for
last two sessions, which is a positive sign for the index. The overall trend is
positive. We maintain our ‘buy on dips’ strategy as long as Nifty holds above
12200 level. On the upside, we may see an up-move towards 12355 and then 12425
levels; while on the downside support is seen at 12150 and then 12100 levels.
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Resistance: 12355,
12425, 12475
Support: 12150,
12100, 12050
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