Dalal Street Week Ahead: Sideways consolidation likely to persist amid global trade uncertainty
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The Nifty traded in a largely range-bound manner through the week, oscillating within a well-defined band and ending the week on a negative note. After a strong opening, the index saw selling pressure at higher levels, remaining under check within a narrow range of 25246–24806 spanning 440 points before settling slightly lower. Meanwhile, the India VIX declined modestly by 1.03% on a weekly basis, closing at 11.27. For the week, Nifty ended with a minor loss of 131.40 points, or (-0.53%.) The index continues to face strong overhead resistance as it struggles near the upper edge of a rising channel formation. Despite recently reclaiming ground above the 20-week moving average, Nifty is showing signs of fatigue as it approaches the upper Bollinger band. A decisive move beyond either of these levels may trigger a directional move. Heading into the coming week, markets may see a cautious or flat opening unless there is a strong global trigger...