Resistance for Nifty at 9130-9150: Prakash Gaba

Technical Analyst, Prakash Gaba:

Nifty (9108): We said ‘technically the setup is such that that it can climb higher for a day or two but Nifty Banks looks to be not as strong and so I would doubt the up move Nifty if it comes. The crucial support for the Nifty is at 8990-8950 and the resistance is at 9130-9150’.

The Nifty unfolded higher as expected but retreated around 9130 and closed marginally in the green, technically the Nifty looks to be range bound with stiff resistances in the upper regions and support in the vicinity of 8990.

The crucial support for the Nifty is at 8990-8950 and the resistance is at 9130-9150.