NIFTY opened on a positive note and tested 12k mark but it witnessed some profit booking in the last half an hour of trade. Now NIFTY has resistance in the range of 12000 to 12100, thus on higher levels, one needs to be cautious and should take aggressive longs only above 12100. On the downside, if NIFTY breaks 11830 then it can test 11750 and below that 11624, these are 38.20% and 50% retracement levels of its recent rally from 11090 to 12158.
|Buy above 12010||11950||12125|
|Sell below 11930||11991||11810|