Yesterday in the first half we witnessed some profit booking in the market but in the second half markets recovered smartly from lower levels and finally NIFTY managed to close above 12k mark. The market undertone is still bullish, thus we maintain bullish view with immediate term target of 12100. If NIFTY breaks it's all time high of 12100 then it will run towards 12600. Hence any correction would be a good buying opportunity. On the downside the range of 11800 - 11850 will play as an important support for immediate term, however the short term support remains in the range of 11500 - 11475.
|Buy above 12045||11994||12150|
|Sell below 11900||11956||11775|