In the previous technical note, it was categorically mentioned that while the overall trend may stay intact, the markets may continue to largely consolidate. In line with the analysis, the markets continued to consolidate and stay in a broad but defined trading range. The trading range over the past week was 422 points; the Nifty oscillated in this range before closing the week with gains. The volatility continued to retrace; the headline index closed with a net weekly gain of 172 points (+0.78%).
