INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Nifty on Wednesday tumbled 4 per cent in a session, which was ruled entirely by the bears
So far the support zone of 8,250 is held
If breached, the next support on the downside is placed near the 8,000 level
Nifty will have to top 8,600 zone on the upside for a rally to develop
sustained decline till the end
On the way down, the index broke the swing low of 8,244, which confirms the next leg down
said Gaurav Ratnaparkhi of Sharekhan.
Traders should refrain from taking long positions, said Chandan Taparia of Motilal Oswal
Securities.
This analyst sees resistance for Nifty at 8,555 and 8,888 levels.
