A weak start was witnessed in the domestic markets in tracking global cues. The major sell off in banking, automobiles and capital goods sectors added fire to the downfall. Nifty has resistance at 8840-9050 and had support at 8600-8450 levels.

Investors can buy Nifty 8800 call option 1 lot and can sell 2 lots of 9000 call options. One can buy 8700 put option and can sell 8500 put options to reduce risk. On the hopes that the fixed income securities will continue to benefit from improvement in economic prospects, the mutual funds have pumped in over Rs 33000 crore into the debt markets for January.