The Indian equity markets extended their gains for the third week in a row; however, they have ended up getting a bit over-extended on the charts. All four trading sessions in the shortened week ended in gains; in fact, NIFTY has closed with gains for nine sessions in a row with VIX staying at one of its lowest levels seen in the recent past. The trading range remained narrow; the index moved in 244 points in the past four sessions. The markets have largely stayed bullish through the week; the benchmark index ended with a net gain of 228.85 points (+1.30%) on the weekly basis.
