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Key benchmark indices almost ended on a flat note last week. RBI monetary policy review and general elections in UK were among the important events that kept investors guessing about the direction of market during the week.The Sensex fell 11.23 points or 0.03% to settle at 31,262.06.

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During the week gone by Indian benchmark indices witnessed high volatility as the Nifty traded in a range of about 143 points. The week started on a soft note and traded in a very tight range, volatility mounted on Tuesday as uncertainty over geopolitical tensions send tremors in the markets. On Wednesday, Nifty touched low of 9075.15 and on Thursday recovery was seen in the markets,

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Nifty close 8328 points: The Nifty rose continuously through the week to close with a handsome gain of 2.96%.

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Nifty close 7814 points:The Nifty opened the week slightly better and went up all the way to make a high of 7916 points but failed to close decisively above the 7900 points mark which was a crucial resistance which we have been pointing out. The last day of the week saw a sell off but still the Nifty managed to close with a gain of 81 points (+1.05%).

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Nifty close 7733 points:he Nifty opened the week lower and declined to complete the 61.8% retracement (7697) of the rise from 7516-7992 points where it found support and recovered marginally.

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It opened higher on the slightly better than expected GDP fig of 7.4 per cent. Intra day support is pegged at 7949 and 7921 points.

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The Nifty began the week with a weakness and what triggered the weakness in the indices were the unsatisfactory quarterly results by some of the heavyweights. The Pharma companies were under severe pressure on the concerns of their global business. Lupin reported a disappointing set of numbers. On the other hand FMCG saw margins clutched as they had to pass on the input cost benefits to the end consumers. The Banking stock did attract some buyers in the last couple of trading session on the back of improvement on the NPA front. At end it was a purely flop show by the benchmark indices as they witness back to back selling.

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