Markets see volatility ahead

 The markets were range-bound throughout most of last week and saw a significant drop on Friday.

 The Sensex closed at 4865.83 points with a loss of 2.13 per cent. The Nifty lost 2.61 per cent closing at 1550.45 points.

 The Defty lost 2.79 per cent with the rupee depreciating somewhat after a long run-up. Breadth was poor. Advances were far outnumbered by declines.

 Volumes were low throughout every session of the week. The broad-based BSE 500 lost 1.47 per cent. The Nifty put-call ratio was at 0.39, which is neutral territory.

 Outlook: There is no clearly established trend visible in the near future. The markets made a downside breakout after range-trading for several sessions.

 But the breakout didn