The support for the Nifty is at 8367-8319 and the resistance is at 8435, says Technical Analyst, Prakash Gaba.
Nifty (8407): We said ‘technically now 8435 is the next logical target and now 8319 would be the crucial support to work with’. The Nifty opened with a bull gap and traded up to close in the green seeing the high at 8417.
Technically the trend is still up as long as 8367 holds but we are now heading to our logical technical target and strong resistance of 8435. I would like to see how Nifty negotiates 8435 if I have to modify the targets to 8558.
The support for the Nifty is at 8367-8319 and the resistance is at 8435.