However, after pausing its rise for just one week, the market went on to pile up gains once again over the previous five sessions. The trading range for the week remained nearly the same. The week’s high was just 5-odd points short of the index’s lifetime intraday high.
After moving in a nearly 390-points range, the benchmark Nifty index closed with a net gain of 177 points, or 1.13 per cent, on a weekly basis.
Despite the relentless incremental rise, the market, in general, is also sending out several warning signs. The breadth, or the internal strength of the market, remains weak. The lead indicators continue to show ongoing bearish divergences against the price.
The immediate short-term…