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