After a brief pause in the week starting February 8, our markets resumed their upward momentum on the first trading day of the last week on the back of global optimism and encouraging macro numbers. The upward move continued on the following day as well to clock fresh record high of 15,431.75. However, at higher levels, most of the heavyweight counters started experiencing some profit-booking, which extended as the week progressed. In this process, the Nifty eventually sneaked below the psychological mark of 15,000 on Friday to snap the weekly winning streak.
For the major part of the week, the market has been experiencing some pressure at higher levels and this is what we have been alluding to in our