Just like the entire nation, Nifty is also riding the election wave. Markets are expected to cross over the 9000 levels as they can sense a stability in the Government. However, the markets are continuing the northwards journey without much of consolidations taking most of the stocks in overbought zones.
Though the long-term outlook remains positive, short-term traders need to exercise extreme caution as volatility is expected ahead. There are good supports for Nifty at 8850 8800 levels and then again at around 8650 levels. On the upper side, 9100, 9150 and then 9200 are expected to be strong resistances.