Union Finance Minister Arun Jaitley speaks at the India Economic Forum 2017 in the city. Pic/ PTI 

After the continuous uptrend, we saw heavy sell-off on Friday due to the weak rupee. There were growing geo-political tensions and weak Asian market cues. Downgrading of Hong Kong after China, by the S&P rating agency also made Asian markets nervous. Domestic market VIX has risen by around 10 per cent on Friday and closed at 12.8 per cent. This is indicative of weakness in the market condition. On Friday, the Nifty lost nearly 1.56 per cent and closed below 10,000 marks. Going forward, Nifty is likely to trade towards 9,920 and 9,797 levels. Movement below these levels could trigger further sell-off and Nifty may test 9,700 levels. Nifty has resistance at 10,096 and 10,315.