NIFTY TREND

The week opened with a big gap down and there was no respite finally nifty tanking 235 points signalling further down side. For Tuesday trade, Nifty could find difficult to sustain above 12k as the fall is huge. Yesterday's fall indicates change in the trend in January. Dips cannot be bought. It is likely that index is in sell on rise mode. I do expect the down trend to remain for few sessions before it takes cues for an up move which is capped. 

Unless nifty moves above 12152, one cannot be positive about market.  On the down side, 11885/850 offers good support failing which it could be another 300 points down from 11850. One should adopt cautious approach.

Good Luck!