In the last week, the markets tested a new high on the back of bargain buying by both retail and foreign investors. But profit booking was also seen. Both Sensex and Nifty closed up around 1.4 per cent.

Nifty levels
Nifty has resistance at 8636 and 8676, and we can expect profit booking at these levels, but after minor consolidation we can expect the continued surge up. This can take Nifty higher up. Nifty has support at 8500 and 8436 are the key support levels.