The markets traded in a largely range-bound manner through the week and ended with modest gains amid continued consolidation. The Nifty oscillated in a 542-point range as the index tested a high of 23,859.90 while slipping to a low of 23,317.10 during the week.
Volatility cooled off further; the India VIX declined 4.68% to 17.91 on a weekly basis, indicating a temporary moderation in market anxiety. The headline index closed the week with a net gain of 75.80 points (+0.32%).
The broader technical structure of the Nifty remains neutral-to-cautious as the index continues to hover below a crucial resistance zone near 23,800-23,850. This level has emerged as a significant hurdle and meaningful stability would return only if the Nifty manages to move above this zone and sustain there on a closing basis.
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