Friday, Indian benchmark Index Nifty saw a sharp upside rally of 132 points from a low of 8006 to make a high of 8138 and finally closed at 8118. The fears in the market around the demonetization and its negative effects on economy seemed to subside a little as the broader Indices like Small Cap and Bank Nifty continued to outperform Nifty. However, RBI's current move to curb excess liquidity with the banks may put some pressure on the markets especially the banking shares, which may get the worst hit. RBI in a circular to all scheduled bank has ordered them to maintain excess reserves in form of an incremental CRR of 100% on the increase in NDTL (Net Demand and Time Liabilities) between 16 Sep and 11 Nov, 2016. However, RBI also mentioned that the move was a temporary one and will be reviewed on Dec 9 2016.Major Support for Nifty Futures stands at 7962, for December Series. Bank Nifty has its major support at 18200 and 17963. However, if these levels are breached on the downside the next target for Bank Index is 17350.FII have been net sellers on the cash markets but past two days there has been some buying in NSE Small Cap Index which has risen up by 300 points from low of 5408. However, FII have ended the month of November with a net selling in the cash market worth Rs. 17023 Cr, the highest single month sell figures for the year 2016.Nifty Dec Futures is expected to open at 8080 as per SGX Nifty at 8:30 am IST, which is 38 points below its previous close of 8118.