The support for the Nifty is at 8250 and the resistance is at 8319-8367-8435, says Technical Analyst, Prakash Gaba.
Nifty (8289): We said ‘technically the Nifty still looks OK as long 8175 is not violated and so some more sideways action is not ruled out’. The Nifty traded in a narrow range and closed flat for the day.
The Nifty opened with a bull gap trapping the shorts with short squeezing helping market to close positive for the day.
The support for the Nifty is at 8250 and the resistance is at 8319-8367-8435.