It was a weak performance for the equity markets; after heading nowhere over the past two weeks despite staying volatile, the markets gave up some strength as they closed the week on a negative note. In the previous technical note, it was mentioned about the VIX, i.e., INDIAVIX was at its lowest levels in recent times. It was expected that any spike in volatility would adversely affect the indices. The trading range got a bit wider for the NIFTY as well. Compared to the 415 points, this week the index oscillated in a 582.55 points range. After an overall bearish week, the headline index NIFTY50 ended with a net loss of 478.40 points (-2.67%) on a weekly basis.
