Intraday resistance at 11,755 and 11,800   (16 Oct 2020)

Intraday resistance at 11,755 and 11,800     (16 Oct 2020)
Resistance 1 : 11,755     Resistance 2 : 11,800
Support 1  :     11,700     Support 2:       11,660

Nifty yesterday closed with a loss of 290 points. 
Market closed nearer to day's low levels.
Nifty closed below 11,800 levels.
A negative opening is expected. 
In-case of a recovery, then intra-day resistance at 11,755.
Market has to trade above this, for a further uptrend.
Then the next major resistance above is at  11,800.
This is a short-term resistance.
On a closing basis, market has to close above 11,800 levels.
Nifty in a reaction, then intra-day support below is at 11,700.
In-case of any trading below 11,700, then it indicates a further weakness.
Then the next major support below is at 11,660.
Sundar  Raja, Research Analyst