Yesterday, Nifty gave well upside movement back by support of its 50 DMA (which stood at 8,261 level), which shows further upside movement can be seen from present level.  ''However, on upside, it has crucial level at 8400 which is 200 DMA which will act as strong resistance in coming trading session shows further strong upside movement would be there only above this level,'' said Choice Broking.

Momentum indicators RSI reading is at 57.59 levels with positive crossover which point out for positive momentum but on upper side, it has strong resistance at level 60 which shows no clear direction at this level, it said.

Additionally, stochastic indicators reading is at 48 level with negative crossover which supports the southward direction. "For now, we can see range bound movement in Nifty between the ranges of 8,260-8,400 levels, the broking firm opined.

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