The markets had a positive weekly closing; despite the truncated week with just four trading sessions, the NIFTY registered decent gains. Over the past many sessions, the markets were unable to take any major directional calls; however, this week saw the markets rebounding from the lower edge of the trading zone on the back of heavy short covering from the lower levels. The trading range got a bit wider; the index moved in a range of 467.85 points over the past four sessions. A few important supports were defended on the weekly charts; the headling index closed with a decent gain of 414.70 points (+2.45%) on a weekly basis.
