Once again NIFTY took support near 20DEMA yesterday , which is placed near 11700 and recovered smartly. We still feel that NIFTY has a lot of support near 20DEMA and till NIFTY is not breaking 20DEMA on the closing basis one can hold long positions with strict stop-loss. .On the upside, NIFTY has a lot of resistance in the range of 12000 - 12025 thus the fresh long positions should be taken only on a breakout above 12025.
|Buy above 11960||11899||12075|
|Sell below 11660||11726||11525|