The markets remained under sustained corrective pressure throughout the week and ended lower, as sellers retained control at higher levels. Nifty oscillated in a broad 734-point range as the index touched a high of 23,997.45 and a low of 23,262.55. The volatility component also edged higher; India VIX rose 11.58% to 18.79 on a weekly basis, reflecting growing nervousness and elevated risk perception among market participants. The headline index ended the week with a net loss of 532.65 points (-2.20%).
From a structural standpoint, Nifty continues to remain in a vulnerable setup after failing to sustain above the crucial 24,500–24,700 zone, which coincides with the 100-week moving average and the middle Bollinger band region. The index has slipped back below the 50-week moving average placed near 24,985, keeping the intermediate trend under pressure. The broader price structure suggests that the market is presently trapped inside a wide consolidation-to-corrective formation with lower highs emerging on rebounds. The zone near 23,200–23,000 remains an important support area; any decisive violation of this range may trigger a fresh leg of weakness toward lower levels. On the upside, the markets would require a strong move above 24,300–24,500 to improve the technical structure meaningfully and revive directional strength.
