Domestic market investors were cautious ahead of the RBI policy meet last week. But the surprise cut by the central bank helped markets erase all losses. Also, improved global conditions supported the markets.

The outlook is still weak and marginal uptick can be expected with resistance at 8050 and 8100. Support for Nifty lies at 7871 and 7823, movements below this level can bring Nifty below 7600 levels. Investors can sell Nifty 8100 call and can sell 7500 put together because of narrow movement this week.