NIFTY is trading between multiple channels, Go long only if breakout above 8180 else NIFTY can recede back to 8020-8030 levels in couple of days. We will then see if the downward break happens or not. Shall revisit that when time.
@indiagmb, I share the same view, there will be a limited upside at last around 8300, post that we will see how the market unfolds. 8317 is 38.2% Fibo retracement level. So, I think NIFTY should reach there. and when NIFTY starts to fall again then it will breach 7900 this time.