*Nifty 50-Update*
In last trading session Nifty made high 11899, low 11723 and closed at 11889. Nifty took support near its 20 DEMA , which is placed near 11700 and we witnessed some buying in the market.
Nifty has a lot of support at 20 DEMA and till Nifty is not breaking 20 DEMA on the closing basis one can hold long positions with stop loss below 11700. On the upside, the range of 12000-12025 is playing as a strong resistance for the short term, thus the fresh long positions should be taken only on a breakout above 12025.
Disclaimer-Educational purpose only.