In a technically important week, the equity market pulled up from the lows hit in the previous two weeks. Nifty saw a narrower trading range than the week before. The index oscillated in a 446-point range over the past five session and kept on trending on the upside. Except for some intermittent hiccups, the market broadly edged higher. While continuing to stay within the Falling Channel and following a relatively quiet and less volatile week, the headline index ended with a net gain of 192 points, or 1.31 per cent, on a weekly basis. Over the past sessions, Nifty violated some important rising trend line supports; this trend line was drawn from the lows of March 2020, which joined the subsequent higher bottoms. However, the price action over the past couple of days has led the index to move above this trend line again. From a technical perspective, this would be important; if Nifty stays above this rising trend line, then we may see it test the upper edge of the Falling Channel.