In the previous weekly technical note, it was mentioned about the vulnerability that the market faces due to extremely low levels of VIX. It was expected that such low levels of VIX had left the markets vulnerable to violent profit-taking bouts from higher levels. Precisely on these lines, the Indian equities saw corrective bouts through the week with VIX spiking higher on such occasions. The trading range expanded on the anticipated lines; NIFTY oscillated in a 499-point range over the past five sessions. Despite a decent pullback on the last trading day of the week, the headline index closed with a net loss of 129.05 points (-0.66%) on a weekly basis.
