After posting decent gains in the week before this one, NIFTY chose to consolidate this time just below the key breakout levels. The five sessions were largely consolidatory in nature; the markets stayed devoid of any direction throughout this time and consolidated just below key resistance and breakout levels. However, given the consolidation in the markets, the trading range remained quite narrow; the index oscillated in a 197.90 points range through the week. While heading nowhere and steadfastly consolidating at key levels, the headline index closed flat with a negligible gain of 34.75 points (+0.19%) every week.
