After breaking above 8150, Nifty has risen to near 8300 as expected. It has not yet closed above this critical resistance and if it stays below this level then it may drop further to near 7900-8000 which is a major support zone.
For any major rally to start, Nifty has to cross and sustain above 8300 and then it may rise up to 8500-8700.

RR Financial Consultants