Indian equity markets staged a strong recovery during the week, reversing some of the weakness seen in previous weeks. The Nifty began the week on a positive note and extended its recovery, although the broader technical setup remained challenging. The Index traded in a range of 861.40 points. Weekly volatility cooled by 2.23% to 14.06. The headline Index eventually ended the week with a net gain of 625.70 points (+2.78%).
The most significant technical development of the week was Nifty reclaiming its 200-week Moving Average, currently at 22,651.47, after slipping below it in the preceding weeks. This recovery is significant because it has, at least for now, prevented a deeper deterioration in the Index's long-term technical structure.
