After inching higher for six weeks with intermittent corrective bouts, Indian equities finally took a breather and succumbed to a corrective move as it ended the week on a negative note. In the previous weekly technical outlook, it was categorically mentioned that the markets remain prone to corrective retracement. In line with this analysis, the headline index Nifty 50 saw a meaningful technical retracement from higher levels. The trading range expanded on the expected lines with the index oscillating in a 620.-5 points range. While ending the week near its low point, the benchmark index closed with a net weekly loss of 470.20 points (-2.09%).
