Next major resistance at 12,400 -- 14 Jan 2019
Resistance1: 12,375 -- Resistance 2 : 12,400
Support: 12,335 -- Support 2 : 12,300
Nifty closed with a steady gain of 32 points.
Market is seen in a cautious uptrend.
Nifty in-case of a positive trend, resistance intraday above is at 12,375.
Market has to trade above resistance for a further uptrend.
Then the next major resistance above is at 12,400.
Nifty has to close strong above 12,400, on a closing basis.
In-case of any trading below 12,335, then it indicates a minor weakness.
Then the next support below is at 12,300.
In-case of any trading and if closes below 12,300, then it indicates a short-term correction.
V. Sundar Raja, Research Analyst