Market closing report  (27 Feb 2020)

Market closing report  (27 Feb 2020)
Nifty at the opening saw a loss of about 140 points.
But in second session, it saw a recovery and closed above 11,600.
Nifty finally closed with a loss of  45 points.
 
Major trend is still weak. 
Market is seen in a minor recovery. 
 
Nifty in-case of a recovery, then intraday resistance above is at 11,660.
Nifty  has to trade above this resistance 11,660 for a positive trend.
Then the next major resistance above is at 11,720.
 
On the otherhand, incase of a correction and if trades below support of 11,580, then it indicates a further weakness.
Then the next major support below is at 11,500.
 
- V. Sundar Raja