The support for the Nifty is at 8550-8480 and the resistance is at 8700, says Technical Analyst, Prakash Gaba.
Nifty (8583): We said ‘technically now the line in the sand is at 8480 and if it closes below 8480 then the avenue opens down to even 8150 zones as well’. The Nifty traded in a pause mode due to weekend short covering and closed flat for the day.
Technically analysis remains the same with resistance to around 8700 zones.
The support for the Nifty is at 8550-8480 and the resistance is at 8700.