Technical Analyst, Prakash Gaba:Nifty (8541): We said ‘the market sold off in the higher regions with banks caving in first, technically now 8450 is possible and stiff resistance at 8578’. The Nifty traded in the red but closed in the green back in the trading range and now looks like now yet again 8578 would be a stiff resistance to deal with but I would look at banks and look for a clue. The support for the Nifty is at 8420 and the resistance is at 8578-8628-8663.
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