NSE:NIFTY   Nifty 50 Index
Key levels for Initiating shorts: 11956 is the key level for Nifty . If broken can be used to initiate short with a stop above day high. Next key level is 11873. Break of this level should lead to a sharp fall below 11829.

On the upside 12040 holds the key. Although longer term charts suggest Nifty may remain choppy with bullish bias above this level.
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