Summary:

• In the week gone by Index was up by near to 1.2%. Nifty had witnessed selling pressure from its immediate resistance of the 17450 level.
• In the previous week, commodities like Crude oil, silver, and gold find decent movement on the higher side.
• Considering recent history, the Index has reacted from a key resistance level and breached the base of 17100 in negative development.
• At the weekend, the global market is showing weakness. We can see its spillover effect on our domestic market on the negative side. Moving below the 17170 level will favour bears.

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