Although domestic stocks logged gains on a weekly basis, they showed the first signs of an impending broad consolidation, as the market spent much of the past three days correcting from higher levels. The market was buoyant at the start of the week. But after marking the weekly high at 14,653, Nifty continued to witness bouts of profit booking at higher levels subsequently. The trading range did not expand much on either side, but volatility surges. Despite five days of volatile trading, the headline Nifty index closed with a net gain of 86.45 points, or 0.60 per cent, on a weekly basis. There is no disputing the fact that the market has demonstrated very strong undercurrents. The US dollar will continue to stay weak following a large stimulus from new US government. All this will continue to fuel liquidity in the emerging markets in general. The buoyancy in the market can be gauged from the 10 positive weekly closes in the last 11 weeks. That said, the overbought and overextended structure of the charts may push the market into more consolidation.