Following global cues, the markets remained under pressure last week. Domestic markets were below crucial levels. Along with news that US index provider MSCI INC may add China shares into its key index also added pressure. But the deferment of including the Chinese shares by MSCI and oversold conditions supported the markets at the end of the week.

Nifty has support at 7900 and 7850; a move below these two levels can cause further selling. Resistance for Nifty lies at 8161 and 8251. In May, mutual funds attracted nearly R 4200 crore, taking the total net inflow near R 57000 crore in a year. The level was also the 13th consecutive month of net inflows by MF.