Week Ahead: RRG Indicates Sector Shifts; NIFTY Deals With These Crucial Levels

Following a strong move in the week before this one, the markets wore more of a consolidatory look over the past five sessions. Following ranged moves, the Nifty closed the week on just a modestly positive note. From a technical standpoint, the Nifty tested a few important levels on both daily and weekly charts. However, the trading range narrowed. The Index oscillated in a 517.60 points range over the past week. The volatility surged again; the India VIX spiked 10.93% to 17.16. The headline index went on to close with a modest weekly gain of 187.70 points (+0.79%).