After closing with gains for four weeks in a row, the markets finally took a breather on the expected lines. In the previous weekly technical note, it was mentioned that the formation of a Shooting Star on candles has the potential to temporarily halt the present rally. The markets traded much on the anticipated lines amid a narrow trading range. Over the past five days, the Nifty oscillated in a 304-point range while not moving past the previous week’s high point. While forming a lower high and a similar low as compared to the previous week, the headline index closed with a net loss of 98.95 points (-0.50%) on a weekly basis.
