A morning walk down Dalal Street | Uptrend will get confirmed if Nifty closes above 12,000

The market was volatile and settled almost unchanged amid mixed cues. Initially, weak global markets and mixed macroeconomic data were weighing on the sentiments.

However, recovery in select index majors in the latter half pared the intraday loss and aided flat close in the end.

Nifty is consolidating in a narrow range of 11,800-12,000 so far in June. Analysts advise traders to wait for a breakout or a breakdown before initiating any trade in either direction that could eventually get over before or after the Budget.