Nifty Futures last Monday reacted to the US-Iran Tension with a strong liquidation right from the beginning of the trading session. Price too broken outside the short term balance and accelerated downward and the negative sentiment continued.
Nifty formed a double distribution with an immediate resistance band around 12080-12100 levels. Price shooting above and rejecting at the single print levels is a key indicator for a potential test towards the next weaker reference at 12000 levels.
Short Term trading sentiment continues to be on the negative side at this time it is good to prepare for sell on rise. Positive setups can happen only if acceptance is coming above 12080-12100 band.