Technical Analyst, A Suresh Kumar Iyer, Asit C Mehta Investment Interrmediates, while commenting on the market said, ``In the last week, the Nifty, as we mentioned in the last weekly outlook, bounced back. The Nifty opened with a positive bias at 3,272.90 and reached a high of 3,648.25 on Tuesday. However, the early gains were wiped off towards the day`s closing. The bearish mood resumed in mid and latter part of the week. The Nifty made a recent new low of 3,046.60 on last Friday closed at 3