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