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Indian equity market witnessed a marginal breather towards the weekend trade after registering a swift gain for two consecutive sessions after the Reserve Bank of India’s rate policy.
In the week gone by over a 25 bps rate hike, market relatively reacted on a positive note over neutral stances by MPC members. The Nifty50 index crossed a 10,800 mark after a long halt on Thursday although it failed to hold above this levels to close at 10,768 levels.
On Friday's trade, the index came under selling pressure as it slipped towards a low of 10,709 zones over a weakness in commodity segment.
However, the index managed to recoup losses at the last hour of trade before ending the week on a flat note at 10,767.65 levels with about 0.67 percent gain on the weekly basis.
After a staggering bullish candlestick pattern on its daily price chart on Thursday, the Nifty index formed a longer shadow pattern on weekly price chart indicating a positive trend over the immediate resistance of 10,818 levels.