The 11,930 & 11,985 levels will act as resistance. Supports may come in at 11,840 & 11,750.
The 11,930 & 11,995 levels will act as resistance. Supports may come in at 11,850 & 11,800.
D-Street week ahead: Nifty faces stiff resistance; auto, FMCG topping out; metals, PSU banks, realty look steady
In the event of any corrective move, the trading range for the week is likely to remain wider.
The RSI on the daily chart stood at 61.05 and stayed neutral, not showing any divergence.
The highest Put open interest, which was earlier at 11,900, has shifted to 11,800 strike.
The 11,950 and 12,000 levels will act as key resistance. Supports are at 11,855 and 11,800.
Nifty has nearly confirmed the 12,000-12,100 zone as immediate top once again.
The bearish divergence against price continues to appear on the RSI.
The RSI on the daily chart stood at 72.53 level, showing no divergence against the price.
F&O data point towards very strong resistance at 12,000 level, followed by 12,100.
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