Next support 12,150 -- 3 Jan 2019
Resistance1: 12,240 -- Resistance 2 : 12,275
Support: 12,190 -- Support 2 : 12,150
Nifty closed weak with a loss of 55 points.
Market closed in-between day's high and day's low, indicating a sideways trend.
Market is seen in a consolidation, in the last three weeks.
Nifty incase of a positive trend, then it has resistance at 12,240.
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 12,190.
Nifty in-case of a further trading below 12,190, then it indicates a further weakness.
Then the next major support below is at 12,150.
This 12,150 is a short-term support, where market has to recover for safety.
Only incase of any close below support 12,150, then it indicates a short-term correction.
V. Sundar Raja, Research Analyst.