Selling pressure was seen in the markets at the beginning of last week. The weak global cues and the Nifty moving below its psychological support added to the downside as the Nifty closed down around 3.7 per cent whereas Sensex ended down around 4 per cent on a weekly basis. The mid-cap and small cap ended down around 3.8 per cent and 3.4 per cent respectively.

Going down
Nifty has minor support at 8216 and if it moves down below this level then we can expect further weakness and may test 8200 or even lower levels. Resistance for the Nifty lies at 8257 and 8302, movements above these two levels can give further strength to the market.