Our markets started the week on a flat note in the absence of global as well as domestic triggers. As the week progressed, key indices continue to remain in a slumber phase. During the mid-week RBI monetary policy, it appeared as if the Governor dented the sentiments; but immediately on the next day, the banking space proved its significance as we saw BANKNIFTY clocking new highs towards the fag end of the week. On Friday, IT counters became the spoilsport by dragging the Nifty below the 18,500 mark. Fortunately, the tail-end recovery pulled Nifty from lower levels to defend 18,400 convincingly.
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