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.