Nifty (8551) we said ‘technically now 8600 is a stiff resistance and downside to 8490-8350 opens up’ the market opened with a bull gap despite a big GST event and closed flat for the day and in the process generating a pattern would could stall the selling pressure and so a bounce is possible and I would say that 8490 is a crucial support to work and a breach of 8490 would hit the market hard ad until that happens…its back to consolidation…
The support for the Nifty is at 8490 and the resistance is at 8600
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