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Below the Quote on Weekly Market Wrap by Amol Athawale, VP-Technical Research, Kotak Securities

In the last week, the benchmark indices witnessed volatile activity, after a roller coaster activity the Nifty ends 0.2 percent lower while the Sensex was down by 307 points. Among Sectors, Auto and Pharma indices outperformed, both the indices rallied over 1.5 percent whereas FMCG index was the top looser, shed over 2 percent. During the week, after sharp selloff eventually market took the support near 24700/80700 and bounce back sharply. Post-promising pullback rally market witnessed some profit booking at higher levels.

Technically, the current market texture is non-directional and volatile hence level based trading would be the ideal strategy for the short-term traders.

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