It appears that our market overreacted to the global development on December 21, but they also remained at the front in the recovery mode.

We managed to shrug off the negativity and restricted the correction to merely one and a half days. Although the fall was intimidating, it was merely a correction within the larger bull market.

We are now back to the record highs and this week would be quite crucial to understand whether Nifty is heading towards 14,000 or not.

A sustainable move beyond 13,780-13,800 would lead to the continuation of the move towards 14,000-14,200 levels.

On the flip side, 13,626 is the level to watch out for. If we again slide below this support, we may see some corrective move in the concluding week of the current calendar year.

Let's see how things pan out because the last week of the year is generally considered a muted one due to the absence of foreign institutional investors.