INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Nifty50 on Tuesday fell below the psychological mark of 12,000 level despite some late recovery
despite efforts by the bulls to defend the level
Immediate resistance is seen at 12,030, while any further fall may send the index towards 11,900, they added
For the day, Nifty closed at 11,992.50, down 53.30 points or 0.44 per cent.
Gaurav Ratnaparkhi of Sharekhan said the index has retraced 50
per cent of the February rally from 11,614 to 12,246 and the selling got absorbed near the key Fibonacci level that resulted in short
of Motilal Oswal Securities believes that the index may need to move above 12,031 for any bounce towards 12,150-12,200 level
He sees immediate support at 11,900.
