Over the past trading week, it was expected that while technical pullbacks in the markets may get extended, NIFTY may still continue to remain under corrective pressure at higher levels. The past trading days precisely witnessed this scenario. The markets initially extended their technical pullback and extended their upmove; however, at the same time, the last trading day of the week saw the markets coming under strong selling pressure. While the NIFTY oscillated in a 427-point range, the notable happening on a technical front was a sharp decline in volatility. The India VIX came off by another 18.82% to 10.93. The headline index NIFTY 50 closed with a net weekly gain of 272.95 points (+1.23%).
