Intraday resistance at 12,160 -- 12 Feb 2020
Resistance1: 12,160 -- Resistance 2 : 12,200
Support: 12,070 -- Support 2 : 12,020
Nifty yesterday closed with gain of 76 points.
But Market in intra-day reacted from higher levels.
Positive opening expected.
Nifty in-case of a recovery, intraday resistance above is at 12,160.
Market has to trade above resistance for a further uptrend.
Then the next major resistance above is at 12,200.
Market has to sustain above 12,160.
In-case of a weakness, intraday support below is at 12,070.
In-case of any trading below 12,070, then it indicates a further weakness.
Then the next major support below is at 12,020.
V. Sundar Raja, Research Analyst