The markets traded with positive bias through the week and ended on a firm note after witnessing steady buying interest at lower levels. Nifty oscillated in a relatively narrow 371-point range before settling near the upper end of the range. Volatility cooled sharply, with India VIX declining 11.89% to 12.97, reflecting improving risk appetite and reduced near-term uncertainty. The benchmark index closed the week with a gain of 390.20 points (+1.65%).
From a structural perspective, Nifty continues to remain trapped inside a broad trading range that has governed price action over the past several weeks. The index has resisted the 20-week MA at 24027 and remains below the 100- and 50-week moving averages at 24511 and 24,832, respectively, keeping the medium-term trend in a neutral-to-cautious zone.
