index made a low of 12310 and is currently trading around 12451.
The near term support is around 12370-12400 (Trend line support 11463 and 11942 and 89- EMA) and any daily close below that level will drag the index till 11945 (Apr 20th 2017 low)/11463 (Feb 7th 2017 low).
On the higher side, temporary top formed around 12956 will be acting as major resistance and any further bullishness can be seen only above that level. The minor resistance is around 12609 (21- EMA)/12715 (61.8% retracement of 12956 and 12310).
It is good to sell below 12400 with SL around 12540 for the TP of 11950/11480.
The near term support is around 12370-12400 (Trend line support 11463 and 11942 and 89- EMA) and any daily close below that level will drag the index till 11945 (Apr 20th 2017 low)/11463 (Feb 7th 2017 low).
On the higher side, temporary top formed around 12956 will be acting as major resistance and any further bullishness can be seen only above that level. The minor resistance is around 12609 (21- EMA)/12715 (61.8% retracement of 12956 and 12310).
It is good to sell below 12400 with SL around 12540 for the TP of 11950/11480.
