Week Ahead: Consolidation Likely As NIFTY Tests Crucial Levels; Guard Profits Mindfully

The markets closed with gains for the third week in a row as the key indices posted gains while extending their technical rebound. The Nifty had a trending week; it trended higher most of the week. The volatility was largely absent, but the Indices stayed quite choppy on most days except the last day, where it remained flat. The volatility stayed largely subdued; the India VIX retraced by 1.98% to 14.14 on a weekly note. The trading range stayed wider; the Nifty oscillated in an 849-point range over the past five sessions. The headline index finally closed with a net weekly gain of 546.70 points (+2.27%).