Nifty opened on a positive note and made a high of 8440, but thereafter it witnessed profit booking and started making lower tops and lower bottoms on the intraday charts. In the afternoon session it fell below 8400 mark and made a low of 8378. Finally it ended at 8398 with a loss of 0.18%. The Advance Decline ratio was almost flat.
Yesterday, Nifty witnessed profit booking on higher levels. But the undertone is still bullish and now if Nifty breaks 8450, Nifty can fill the 10th Nov. gap and can test 8510. On the downside, the range of 8325 - 8275 will play as an important support for immediate term.