After rising three weeks in a row, the Indian equities took a breather as they ended the week on a negative note much on the anticipated lines while resisting the key levels. There has been a slight divergence between the Indian markets and the global markets. Structurally speaking, SPX and other key European Indices like DAX look stronger than NIFTY; however, it can be said that they perhaps playing a catchup of their relative underperformance over the past months. The trading range got a wide wider, NIFTY oscillated in a 398-points range over the past five sessions. While continuing to resist the key levels, the headline index closed with a net loss of 111.40 points (-0.61%) on a weekly basis.
