Support at 11,500-11,480 (28 Feb 2020)

Support at 11,500-11,480 (28 Feb 2020)
Resistance1: 11,540                   --    Resistance 2 :  11,580
Support:        11,500 -11,480      --   Support 2 :        11,450
 
Nifty yesterday closed with loss of about 45 points .
 
Negative opening expected, due to global trends.
Market has to stabilize after opening volatile trend.
 
In-case of a weakness, intraday support below is at 11,500- 11,480.
In-case of any trading below 11,480 then it indicates a further weakness.
Then the next major support below is at 11,450.
 
Nifty in-case of a recovery, intraday resistance above is at 11540.
Market has to trade above resistance for a further uptrend.
Then the next major resistance above is at 11,580.
 
On closing basis, NIfty has to close steady above 11,500.
 
- V. Sundar Raja, Research Analyst
www.sundartrends.in