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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.