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Importantly, Nifty has rolled inside the improving quadrant of the RRG; this may lead to the large-caps starting to relatively outperform the broader mid and small-cap space over the coming weeks. A stable start is expected for the week; the levels of 19880 and 20075 may act as resistance points. The supports are likely to come in at 19535 and 19410.
The week gone by was a short and truncated one with just three working days. Nifty stayed volatile on the expected lines, and danced to the swings in bonds yield and dollar strength on the expected lines, but continued to post gains. On the weekly chart, the index stayed very much in a defined range, as it remained inside the retracement channel that it has formed for itself. As the number of trading days was less, the index move remained limited and Nifty traded in a 265-point range. While staying exactly in the middle of the retracement range and above the major upward rising trend line, th...