Week Ahead: NIFTY Needs To Reclaim This Level To Extend Technical Rebound; Leadership Is Seen Slowly Changing Hands

Nifty traded with a negative bias through the week and ended lower. The index oscillated in a 476.75-point range before settling at 23,346.40. The close near the lower half of the weekly range reflects renewed selling pressure, although the index continues to hold above the important 23,000–23,100 support zone created by the most recent swing low. Volatility cooled during the week; India VIX declined 7.32% to 11.39. Nifty eventually finished the week with a loss of 51.70 points (-0.22%).