Street signs: Nifty set for consolidation, 'biz as usual' stocks, and more

Nifty set for consolidation

The benchmark indices ended marginally lower last week after sharp gains in the preceding two weeks. Technical analysts say the markets are poised to enter the consolidation phase. “The Nifty has met with stiff resistance above 9,300. On the other hand, it seems to have solid support at around 9,100. Looks like the index could gyrate between these two levels,” said an analyst, adding that the closing of the India VIX below 40 is a sign of stability. Market players said such a consolidation could be healthy for the markets as it might form a base