The support for the Nifty is at 8480 and the resistance is at 8700, says Technical Analyst, Prakash Gaba.
Nifty (8520): 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 opened in the green and sold off closing in the red.
Now we are very close to very crucial 8480 zones and the Nifty looks still weak but there is a good chance that Nifty could see a technical bounce from here and if that happens there would be a stiff resistance around 8700 zones.
The support for the Nifty is at 8480 and the resistance is at 8700.