Nifty Holds 8800 Amid Consolidation; Hindalco, Yes Bank Rally

Infosys gained 0.6 percent after agencies are saying co-founder Narayana Murthy has resumed talking to the board and says company Chairman R Seshasayee enjoys the "highest integrity". 

Mahindra & Mahindra, Tata Steel, Wipro, Hindalco, Yes Bank and GAIL gained a percent each while HDFC, HDFC Bank, SBI, Sun Pharma and Tata Motors were under pressure.

"Open interest data suggests put writing at 8700, call unwinding at 8900 and an increase in call writing at 9000. Looking at this behaviour we can see that Nifty is still bullish and is more than likely to trade between 8900 and 9000 this week. However, if Nifty does not breach 8870 intraday level, then we can expect Nifty to drift back to 8700," Raghu Kumar of Upstox says.

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