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