Weekly View: Nifty trying to cross 12000, seems like a hard task. It could not hold above 11980 for long enough and has formed Evening star like pattern, indicating bearish view ahead. Bearish view will be confirmed if 11840 is breached. Market breadth of Nifty 500 is slightly bearish at 40.
Weekly View: Nifty has been bullish for past two weeks. It reached the blue zone, waiting for a trigger (probably some news or rumor) to break immediate resistance at 11980, if this resistance is sustained then it can reach 12120 zone. Market breadth of Nifty 500 is neutral at 60. Not expecting a big fall, but market may check the lows around 11640.