Nifty around key support

The benchmark Nifty is currently around 8,100, a key support level. The index has formed a triple-bottom around this level in the past month. On previous occasions, the Nifty has managed to bounce back sharply whenever it has slipped below 8,100. Technical analysts say 8,055 remains a key support level for the index. The Nifty could bounce back sharply if it trades just above this level.