After a strong performance in the week before this one, the markets chose to take a breather. The NIFTY went within the kissing distance of the all-time high level of 18887 and saw corrective pressures at that point. The markets kept on testing these crucial levels multiple times while the Banknifty (Nifty Bank Index) grossly underperformed the NIFTY on relative terms. The index oscillated in a narrow 239.50 points range over the past five sessions but ended up delaying the much-awaited breakout. The headline index closed with a net loss of 160.50 points (-0.85%) on a weekly basis.
