In the previous weekly technical outlook, it was mentioned that the markets have attempted a strong breakout which can be termed as one of the major ones; this week, it showed some signs of tiredness while still managing to end the week on a positive note. The markets evidently showed some signs of consolidation as the trading range also got narrower; against the 555-points trading range in the week before this one, the NIFTY oscillated in just 289.20 points over the past five sessions. The last trading day of the week saw Nifty shedding 165.50 points; despite this, the headline index ended at a fresh lifetime high and managed to end the week with a net gain of 142.75 points (+0.74%) on a weekly basis.
