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According to Pivot charts, the key support level is placed at 11,080.43, followed by 11,030.47. If the index starts to move higher, key resistance levels to watch out are 11,175.93 and 11,221.47.The Nifty50 is likely to open flat on Tuesday tracking muted trend seen in other Asian markets. A weak handover from Wall Street is also likely to weigh on sentiment.
The Nifty formed a small bull candle on the daily candlestick charts on Monday which suggest that there was profit booking at higher levels.
According to Pivot charts, the key support level is placed at 11,080.43, followed by 11,030.47. If the index starts to move higher, key resistance levels to watch out are 11,175.93 and 11,221.47.
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