NIFTY continued its northbound journey in early trade yesterday, but witnessed profit booking in the afternoon session. On the charts, there is no sign of weakness, we still believe that this is a buy on decline markets. Thus we maintain bullish view with the immediate term target of 12500, however the short term target remains 12650 for NIFTY. On the downside, the immediate term support has shifted upward to 12250 - 12300, however, the short term support remains at 12k.
|Buy above 12392||12344||12475|
|Sell below 12275||12326||12175|