The index pulled back in a great way after the Middle East tensions. The prices halted at the previous highs. The momentum ( RSI
) is into a sideways zone and still diverging with the price. A sustenance above 12290 may push up the prices to 12360 – 12500 levels, however any failure to sustain above the levels may push nifty
to 11930 where it may find support. The MACD
is above zero line ( bullish
) while RSI
has slided between 60-40.