Nifty Futures on Tuesday trading session rejected the Monday Prominent POC and broken two day low. And Short term trend reversal is witnessed with overhead resistance around 12120-12140 levels.
Interestingly there was a late rally from the mid-day liquidation which pulls the price down below the value area low and managed to settle down below the Friday low.
Friday session also currently acting as overhead resistance in the band of 12120 & 12140. And the short term trend turns down from consolidation mode. Value on Tuesday’s trading session built lower as well.
Today’s opening monitor is going to be rally high and Wednesday low to monitor the trading confidence. Nifty might be holding the 12000 psychological marks till the RBI announcement. However, in a short term trading sentiment started shifting towards the downside and near term Nifty Futures might be approaching towards the AB poor low at 11880 levels and lower.