The Nifty could gain another 50-70 points but there is likely to be strong resistance at 8,800 level, says Sanjiv Bhasin, Executive VP - Markets and Corporate Affairs at IIFL.
ECB chief Mario Draghi said on Friday the bank will "do what we must" to lift inflation as quickly as possible, in a new sign it could boost its anti-deflation defences.
German Chancellor Angela Merkel said on Friday that a single European banking supervisor would be built up in the course of next year and must be completed before euro zone rescue funds may directly recapitalise troubled banks.