Summary:

• On a week on week, basis Index was down by near to 1%
• Banking stock played a spoilsport factor, banking, and related sectors were the worst performers, down by near to 2%
• From a strategic index perspective, this week, Midcap and small-cap did well compared to large-cap
• The index is under a broader range of 18200 to 17200 whereas 17300 to 17800 is a close range.
• View about the index, it is range bound to negative
• Moving below 17300 can lead to a further decline up to 17000 to 16800

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