The stock market is likely to make a stable start to the trade on Thursday.
Tuesday’s session is likely to see 12,120 and 12,160 levels act as resistance.
The 12,000-12,040 zone has reinforced itself as a critical resistance area for Nifty50.
The weekly RSI stands at 64.4315 and continues to show bearish divergence against the price.
The RSI stood at 62.7835 and it has continued to show bearish divergence against the price.
Nifty’s strike price of the 12,000 level has the highest Call open interest built-up.
Wednesday’s session is likely to see 12,000 and 12,040 levels act as a stiff resistance.
The 12,000 and 12,040 levels are expected to act as strong resistance points on Tuesday.
On Monday, the 11,910 and 12,000 levels are likely to be the next resistance points for Nifty.
The election results saw both Nifty and Sensex test their historic highs.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon