Hot Stocks: A decisive move above 11,900 on Nifty could put bulls back in control

Indian markets continued its losing streak and once again ended in the red zone with Nifty50 slipping below 11800 levels in absence of any fresh positive triggers on Tuesday.

The market could not manage to hold at higher levels on the back of weak global markets as coronavirus is still hurting the sentiments across the globe.

From the derivative front once again, call writers were seen adding hefty open interest at 11900, and 12000 call strikes which point towards limited upside moving forward.

From the technical front, both Nifty and BankNifty are currently trading at crucial support levels as both the indices are now close to their 200-Days Exponential Moving Average on the daily interval which is placed around 11,700, and 30,100 respectively.