The markets last week remained in range bound as mixed global cues and profit booking on the domestic front influenced it. The FIIs remained sellers which also added to the concerns. Nifty closed at 7229 on Friday down around 1.9 per cent on weekly basis. Nifty has support at 7118 below it may move towards 6800.

Government change
As a new government was sworn in at the centre, foreign investors remained buyers, and pumped in over Rs 14,000 crore in the Indian stocks.