A volatile week came to an end but one factor which will weigh on the trading community is that the Nifty is now trading below its crucial short-term moving averages. It closed below its 100-day exponential moving average (DEMA) which was placed around 10,405 for the week ended March 16.

The Nifty50 fell from an intraday high of 10,478 recorded on March 13 to close the week at 10,195, down 0.3 percent for the week. The index closed below is short-term moving averages on the weekly charts as well which does not augur well for the bulls.

The index which started the week on a high note consolidated throughout the week and closed with a big bear candle on Friday.

The heavy sell-off on Friday resulted in a decent cut from weekly highs to conclude proceedings below the 10,200 mark, on the weekly basis, for the first time after December 01, 2017.