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Nifty traded in a 359-point range, and the market maintained its trajectory throughout the week, barring few incidents of consolidation on the daily chart.
Post Market views - Feb 19, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities
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. Ther...
In a week that was a bit more volatile than the earlier one, Indian equities continued with their bounce and once again ended at their lifetime high. The trading range was wide over the past five sessions, as Nifty oscillated in the range of 414 points. On the anticipated lines, the market did witness bouts of intermittent profit taking, but all those selloffs got bought into at lower levels. However, this led to an increase in volatility of the previous week. Following days of rangebound corrective move and some advancement on the broader terms, the headline index finally ended with a net ga...
Nifty has again deviated from the mean too much and it stands overstretched now. The volatility, which rose over 25 per cent during the week before this one, cooled off a bit as INDIA VIX came off 2.04 per cent to 19.56.