Sundar Raja Market TREND (Jan 2)

Sundar Raja Market TREND (Jan 2)
Further weak below 12,150    -- 1 Jan 2019
 
Resistance1: 12,230     --    Resistance 2  : 12,275
Support:       12,150      --   Support 2 :    12,090
 
Nifty closed cautious with a gain of 21 points.
Market closed in-between day's high and  day's low .
Nifty saw a minor recovery above support 12,150.
 
Further consolidation is possible.
 
Nifty incase of a positive trend, then it has resistance at  12,230.
Market has to trade above resistance for a further uptrend.
Then the next major resistance above is at 12,275 and 12,300.
 
Nifty in-case of a further weakness,  then intraday support below is at 12,150.
 
 
Nifty in-case of a further trading below 12,150, then it indicates a further weakness. 
Then the next major support below is at  12,090.
Only incase of a further trading below 12,090, then it indicates  a  short-term weakness.
Then the next major support below is at 12,000.
 
 
V. Sundar Raja, Research Analyst.