In the last analysis, we discussed. The significant support for Nifty Index is at 10260 below that we can see a dip towards 10210/10080 levels. On the upper side, bulls need to break & hold above 10465-10480 range for the move towards 10540/10620 levels.
Yesterday Index opened gap-down. But soon bulls pushed the Nifty towards the higher side; above 10480, it made the high around of 10540, which was our first target.
But Nifty failed to gave EOD close above 10465-480 range, which indicates we may see a further decline.
Now moving ahead, the Index bulls need the close above 10465-480 range, rise towards 10550/10610/10700 levels.
On the lower end, the significant support for Nifty is at 10260 only. In the case of the gap-down opening, 10075-10050 will act as the next critical support.