New Delhi, April 12 -- Equity benchmarks closed the week on a subdued note, ending with modest losses amid heightened volatility. The holiday-shortened week began on a weak footing, with a sharp gap- down triggered by global concerns. However, sentiment improved significantly in the subsequent sessions, helping the Nifty and Sensex trim losses and settle at 22,828.50 and 75,157.26 respectively, down nearly 0.5%.

Technically, the Nifty witnessed a smart rebound after breaching its March lows and is now testing its 20-day exponential moving average (DEMA) around the 22,900 mark. A sustained close above this level could open the door for a further rally towards 23,400, where the 100 and 200 DEMA converge. A major hurdle remains at 23,800. O...