Indices are edging higher but indicators signal short-term weakness ahead

The bellwether indices advanced to record highs, triggered by the India Meteorological Department’s forecast of good monsoon. However, profit taking in the Bank Nifty made e investors cautious in the later part of the week.In the midst of volatility, the Nifty 50 advanced 115 points or 1.24 per cent and the Sensex climbed 329 points or 1.1 per cent last week. Ongoing quarterly earnings announcemen...