In the last week, for most days, the markets slipped but regain momentum even touching its all time high on the back of buying by both retail and foreign investors. The markets on Friday closed up around 1 per cent each. Going forward Nifty is likely to move up further towards 8550-8600 levels in the near term. Nifty has support at 8400 and 8304 levels.

Trade deficit
The country’s trade deficit for the October month narrowed sharply to $ 13.36 billion from $14.25 billion in the previous month. Imports fell to $ 39.45 billion from $ 43.15 billion in September and on yearly basis it rose 3.16 per cent. But on the annual basis, the trade deficit surged 26.1 per cent to $ 13.36 billion.