Week Ahead: Nifty on a Slippery Footing; Reclaiming This Level Becomes Crucial

The markets remained under pressure through the week and ended on a negative note, with the Nifty briefly violating the important 23,900–24,000 support zone before recovering marginally from the lows. The index traded in a relatively wide 356-point range, oscillating between 23,786.80 and 24,143.15, but failed to sustain above the 24,000 mark. India VIX remained unchanged on a weekly basis at 10.68.  The Nifty eventually closed, registering a weekly loss of 277.95 points or (-1.15%).