Resistance 1 : 9120 Resistance 2 : 9200
Support 1 : 9000 Support 2: 8940
Nifty yesterday closed steady with gain of 187 points.
Market bounced-back above 9000 levels.
A reaction at opening is expected due to global trends.
Nifty in a reaction, then intra-day support below is at 9000.
In-case of a trading below 9000, then it indicates a further weakness.
Then the next major support below is at 8940.
On closing basis , market has to close above 9000, for a positive trend.
In-case of a positive trend, then next intraday resistance above is at 9120.
Market has to sustain above 9120 for a further uptrend.
Then the next resistance above is at 9200.
- V. Sundar Raja, Research Analyst