What has happened on Firday? Nifty index as expected and written started the day with positive bias and taken the support at 12230 levels further, it moved up with a non-stop rally beyond the recent time high i.e.12293.90 and traded till near our resistance levels i.e. 12320, made a high at 12311.20, thereafter the weekend profit booking dragged the Index till 12213.20 and closed the day at 12256.80 with positive bias.
What will happen today? Nifty Index may open on a positive note to test 12265-12295 levels if, sustain above 12295 then, it may test 12320-12360-12420 levels. On the other hand, the immediate support lies at 12235-12210 levels if, trade and sustain below 12210 then, it may test 12165-12135-12100 levels.
Special Mention: Nifty Index if, closes above 12300 for three consecutive trading sessions then, it may test 12500 very soon.
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