Yesterday, NIFTY witnessed some profit booking on higher levels and closed below the 12800 mark. Now it is trading near the support range of 12750 - 12700, thus the long positions can be held with stop-loss below 12700. On the upside, NIFTY is facing some resistance near the 13k mark, thus fresh long positions should be taken only above 13k, however we maintain a bullish view for the short term with the target of 13750. The 20DEMA will remain a strong support for the short term, which is placed near 12400.
|Buy above 13000||12900||13200|
|Sell below 12760||12831||12625|