In the previous technical note, it was mentioned that the volatility gauge INDIAVIX stays at its lowest levels and this setup keeps the markets vulnerable to profit-taking bouts from the current levels. Over the past five days, the markets showed some signs of profit-taking, but at the same time, they largely consolidated and traded in a range. The trading range stayed modest at 362 points as the index oscillated within this range. The global equities remained largely stable, but some stress stayed visible. Overall, the markets continued to consolidate while defending important support levels; the headline index closed with a net gain of 97.55 points (+0.50%) on a weekly basis.
