The 11,610 and 11,680 levels are likely to act as crucial resistance points on Wednesday.
Tuesday’s session will see 11,630 and 11,690 levels act as next resistance points.
Continued weakness might push the market towards its 50-DMA, which is currently at 11,725.
Nifty is likely to face strong resistance at 11,900 and 12,040 levels in the coming week.
The 12,000 and 12,060 levels are likely to act as resistance on Friday.
Nifty has managed to keep its head above the short-term 20-DMA, which is at 11,826.
In last 12 months, Nifty has gained 11.34 per cent while Nifty Smallcap has lost 12.53 per cent.
The RSI on the daily chart stood at 56.63 and has marked a fresh 14-period high.
Tuesday’s session is likely to see 11,890 and 11,965 levels act as resistance.
Monday’s session is likely to see 11,840 and 11,875 levels act as next resistance points.
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