Intraday resistance at 12,810   and 12,850     (20 Nov 2020)

Intraday resistance at 12,810   and 12,850     (20 Nov 2020)
Resistance 1 : 12,810        Resistance 2 : 12,850
Support 1  :     12,800        Support 2:       12,740

Nifty yesterday closed with a reaction of nearly 170 points. 
A positive  opening is expected due to global trends.
Market in-case of a recovery, the intra-day resistance above at 12,810.
It has to trade above 12,810,for a further recovery. 
Then the next major resistance above is at 12,850 levels. .
 
On a closing basis, Market has to close above 12,800 levels.
Nifty has to consolidate strongly above 12,800, for a positive indication.
In-case of a reaction, then intraday support below is at 12,740.
In-case of a trading below 12,740, then it indicates a further weakness.
Then the next support below is at  12,680 and next at 12,600.
 
- Sundar  Raja, Research Analyst


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