After consolidating for over a month, the Nifty finally broke out from the 17,800—16,800 range in the week gone by. It ended the week 3.60 percent down at around 16,650.
The Nifty future during the week ranged from 17,350 to 16,230. On the open interest front (OI), the index saw long unwinding.
The Bank Nifty closed 3.11 percent lower at 36,400. The banking index future gyrated between 38,000 and 35,200 in the week ended February 25.
Overall, the Bank Nifty ended the week with a loss of around 1,100 points and witnessed a short buildup on the OI front.