Nifty50 touched the uncharted 12,300 territory but failed to hold onto the gains settling at 12,226.65, down 0.16 percent for the week ended January 10. The BSE Sensex closed the week 0.27 percent lower at 41,464.61.
Experts suggest that the volatility will only increase as we move closer to the Union Budget scheduled for February 1. October-December quarterly earnings will also play a major factor, they said.
Experts feel it would be major relief for global equity markets and the economy, which has been facing trade concerns for more than 16 months now.
According to the pivot charts, the key support level for Nifty is placed at 12,209.6 followed by 12,162.4. If the index moves up, key resistance levels to watch out for are 12,307.6 and 12,358.4.