Redirect 404 errors to the home page

[johnnybut7]

Hi,

Ive received a request stating that the website owner wants all 404 error
messages redirected to the home page as its affecting their seo ranking(im
not sure about this myself but thats another issue). Its a rails application
so i have static page displayed currently and even applied some javascript
to redirect to the home page but the seo tool still states there are X
amount of broken links and that redirecting to the home page via the server
config will fix this.

I cant seem to get this to work in the nginx config, can anyone help me? 
Ive tried various solutions but nothing is working 100%.

Posted at Nginx Forum: http://forum.nginx.org/read.php?2,238094,238094#msg-238094