Just a view on NIFTY as we already had the trades on in BANKNIFTY and this could as well provide some cues. NIFTY likely to test the 8800 zones. If it manages to hold fort expect markets to remain steady. If cracks below it we could have a test of 8720 levels. Institutional data still suggests Long positions. Hence any downside trades better be hedged. For the contrarian lovers look for low risk pullback trades.