New Delhi, India (BBN)-The BSE benchmark Sensex gained over 200 points in the morning deals on Wednesday on the back of broad-based buying.

The 50-share Nifty was trading above its psychological level of 8,400 led by gains in blue-chip stocks such as ICICI Bank, Infosys, HDFC and State Bank of India, reports NDTV.

Meanwhile, technical analysts say that Nifty is likely to trade in a range of 8,420-8,450 in the near term.

Kunal Bothra, technical analyst with LKP Shares, said, “Nifty is likely to trade in a range of 8,420 – 8,450. Nifty over last one week crossed 8,350 where it formed reverse head and shoulder and trending indicators indicated that Nifty has upside from the current levels and has crucial support at 8,320.”