JM Financial says upside for Nifty looks capped; use rallies to sell
“This market will find resistance at higher levels and it will be difficult for Nifty to sustain beyond 12000 levels and if at some point Nifty breaks 11,600, which is our view, chances of 4-5 percent dip is likely," said Gautam Shah, Director & Chief Technical Analyst, JM Financial.