In the previous technical note, the importance of the support level of 19250 was discussed; it was mentioned that if this level stands protected for Nifty, the Index can rebound and inch higher towards 19700+ levels. While trading along these lines, the markets enjoyed trending sessions throughout the week. It had a technical surge and widened its trading range as well. Against the range of 234.90 points seen in the week before this one, NIFTY moved in a larger 434.30 points range and also managed to close near its high point of the range. While continuing to trend all through the past five sessions, the headline index NIFTY closed with a net gain of 384.65 points (+1.98%) on a weekly basis. It may be noted that September has seen the index trading higher by 566.15 points as of now.
