Don't see breakdown, buy on dips till Nifty holds 7700: JM Fin

Gautam Shah of JM Financial says there is nothing alarming as yet to suggest an extended decline would take place.

He feels the level, 7,700, is critical and till the index sustains above it on a closing basis one should buy the dips.

On the upside, 7,810-7,880 now turns into resistance, he says.

Shah believes, overall, one should not throw in the towel as yet as the market has not done anything to indicate a breakdown.