10.15 AM: The Nifty opened near our resistance climbed up to touch the 12000 mark

The Nifty opened near our resistance climbed up to touch the 12000 mark and sold off to close in the red on the day of election result. Technically the bar generated for the day is a negative bar near strong resistance and looks like the high of 12,041 will be a high for some time to come, said Technical Analyst, Prakash Gaba.

The basic trend is up but we are now into sideways move and plenty of opportunities for buy sell. Technically now supports exists at 11,575-11,465–11,382 and resistance exists at 11,763-816-869, he added.

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