The 11,750-11,800 zone may act as strong support given the weekly options data.
Wednesday’s session is likely to see 11,810 and 11,865 levels act as resistance.
Over the past several sessions, Nifty has been struggling to move past the 11,700-11,750 zone.
We recommend staying highly stock specific and avoiding aggressive exposures.
Friday’s session is likely to see 11,635 and 11,700 levels act as resistance points.
The 11,700-11,750 zone will continue to offer stiff resistance on the upside.
The daily MACD remained bullish and traded above the signal line.
Nifty is expected to see a quiet start on Tuesday as it adjusts to the global trade setup.
We recommend remaining vigilant and protecting profits at higher levels.
Nifty has been posting gains, but there is a loss of momentum in market behaviour.
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