• The market was very volatile in the week but closed on a flat note with a -0.18% return. After strong upside movement followed by recent volatility, indicating time-wise correction.
• In the previous move, Index framed the same characteristic. The index can operate within the 17700 to 17300 range.
• From a sector perspective Industrial manufacturing, construction and financial service stocks did well whereas Pharma, Healthcare and IT stocks continued to witness selling pressure.
• The broader view remains sideways to positive. Bull will hold their dominance above the 17300 level. Below 17300 level Bears will have their play. On the higher side, the Index has resistance in the 17700/17800 range.
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