Nifty - 12150 is a crucial support, while 12290 tough resistance
Monday's weakness has already scared the bulls.
If it breaks and sustain below 12150, some more downside can be consolidated.
As long as 11950 holds, the fall is nothing more than a Bull Market correction. AVOID positional shorts as long as it does not close below 11950.
Exceeding 12300 looks difficult in near term, there has been several failed attempts. Short trades above 12250-70 can be initiated with a stop loss of 12310.
WISH YOU A HAPPY NEW YEAR. Keep learning and earning.
If it breaks and sustain below 12150, some more downside can be consolidated.
As long as 11950 holds, the fall is nothing more than a Bull Market correction. AVOID positional shorts as long as it does not close below 11950.
Exceeding 12300 looks difficult in near term, there has been several failed attempts. Short trades above 12250-70 can be initiated with a stop loss of 12310.
WISH YOU A HAPPY NEW YEAR. Keep learning and earning.