The Nifty crossed above its 100 DMA which added support to the markets. Nifty is likely to trade in a range between 8434 to 8650 levels in the days to come. A break out in either direction will give a major direction for the markets.

In order to boost inflows to the country, the cabinet has introduced a concept to simplify foreign investment norms by merging all investments as a composite sectoral ceiling, which may avoid distinction between foreign investments by FIIs, NRIs and other FDIs.