Street signs: Nifty faces stiff resistance at 12,000-point level

Nifty faces stiff resistance at the 12,000-point level and if it crosses the level, it could head to 12,300, say experts. On Thursday, the 50-share benchmark index for the first time pierced that level before succumbing to huge selling pressure, which brought down the Nifty from 12,041 to below 11,700. The index on Friday closed at 11,844. “Despite the election euphoria, Nifty may not find it easy to cross 12,000 unless there is strong positive news flow both on global as well as the domestic front,” said an analyst adding that the index has strong support at 11,500 on the