Resistance at 12,150 and 12,190 -- 9 Jan 2019
Resistance1: 12,150 -- Resistance 2 : 12,190
Support: 12,110 -- Support 2 : 12,070
Nifty yesterday saw a recovery from lower levels.
A sharp recovery is expected today.
Market has to sustain after 1st hour for a further uptrend.
Nifty in-case of an rally, then resistance above is at 12,150.
Market has to trade above resistance for a further uptrend.
Then the next major resistance above is at 12,190.
Nifty in-case of a weakness, then intra-day support below is at 12,110.
In-case of any trading below 12,110, then it indicates a further weakness.
Then the next major support below is at 12,070.
- V. Sundar Raja, Research Analyst