According to Arihant Capital, 7900-7880 is good support for the Nifty. Hence a bounce could be expected from those levels.
The current price action suggests that the upward sloping trendline shown above in the graph holds significance going forward. On the downside, 7920-7900 is important support for the market. As long as Nifty holds the above mentioned zone there is high probability that
indices may head its upward journey.
In coming trading session if Nifty trades and close above 8120 levels then it has potential to test 8100-8120 levels.
We maintain our stance that 7900-7880 is good support for the indices. Hence a bounce could be expected from those levels.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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