The markets extended their corrective move in the previous week; over the past five sessions, the markets remained quite choppy and stayed totally devoid of any definite directional bias. It absorbed a few global jerks and saw gaps on either side of its previous close on different occasions. While the level of 25000 has now almost made itself an intermediate top for the markets, the markets have also appeared to have dragged their most immediate resistance points even lower. Had the markets not seen a rebound on the last trading day of the week, the weekly loss could have been a bit wider. The Nifty oscillated in a 526-point trading range over the past five sessions. The India VIX, the volatility gauge, surged higher by another 7.09% to 15.34. The headline index finally closed with a net weekly loss of 350.20 points (-1.42%).
