Week Ahead: NIFTY Drags Its Resistance Lower; Need To Move Past These Levels To Rise Again

The markets traded under sustained pressure through the week and ended on a distinctly negative note. After attempting a modest recovery early on, the Nifty faced persistent selling at higher levels and drifted lower as the week progressed. The index oscillated within a defined range of 25,771.45 on the higher side and 25,141.30 on the lower side. Volatility cooled off , with the India VIX declining 4.60% to 13.70 on a weekly basis. The Nifty closed the week with a net loss of 392.60 points (-1.54%).