NIFTY continued its southbound journey yesterday and slipped below 11800 mark. This is a sell on rally market, thus any bounce back would be a sell opportunity. We maintain a bearish view with the short term target of 11614. On the upside, for immediate term the range of 11975 - 12000 will play as an important resistance, However the range of 12150 - 12175 will be a strong resistance zone.
|Buy above 11860||11800||11975|
|Sell below 11750||11801||11600|