Workers transfer goods from a van to a supermarket in Beijing. Beijing is bracing for an uncertain outlook that could see a trade stand-off with Donald Trump. Pic/AFP

NIFTY closed in negative territory at 8349 on Friday. If Nifty moves down below 8249, then we can expect more downside to the market. Immediate resistance is at 8427 and 8500. If there is a decisive move on Nifty above 8500, then Nifty can move further North towards 9000 levels. If there are enough budget incentives for the financial markets, then we can expect sharp upward movements. Presently, market participants are cautious post the US Presidential address. Investors are keen to get more clarity on US foreign and economic policies. It is prudent to lighten up your open positions till the January expiry. Foreign Portfolio investors are worried about the GAAR, and most probably, they may stay on the sidelines at least for some time, to get more cues.