Nifty is Overbought

Key Support-Resistance level of Nifty Future

Ø  First resistance of the day is 12006.75;

Ø  Above this next resistance are 12061.70 or 12066.25;

Ø  Tough hurdle is 12080.50.

Ø  Vital support is 11942.45;

Ø  As, BSE Sensex made today new life time high, there a possibility generate that Nifty Future may run to form new top.

Ø  At this scenario above life time high 12118, the index may run to touch 12325.80 within this expiry. 

Ø  Technically tomorrow is very vital to take or to start a down trend. As the index is very near of its life time high 12118.