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WEEK GONE BY

* Benchmark Index traded on a negative note for the week gone by before closing with 1.87% cut at 17,765 level. Banking index underperformed the benchmark index as it closed with 1.95% cut at 37,976 level

* Among the Nifty constituents, MARUTI and POWERGRID closed with 8.50% and 5.75% gains while COALINDIA and TATASTEEL lagged as they closed with 8.40% and 7.75% cut respectively. Among the Bank nifty constituents, AXISBANK underperformed the Banking index as it closed with ~4.00% cut.

* Among sectors, AUTO index performed slightly better as it closed the week with 0.35% gain while METAL and PSUBANK were the laggards as they closed with 5.32% and 3.43% cut respectively.

* Volatility index (India VIX) closed with 2.36% cut and closed at 14.86 level

* FII were net sellers during the week as they sold equities worth 4111 Cr while DII were net buyers during the week as they bought equities worth 3927 Cr in the cash segment

* Globally, Equity markets traded mixed during the week as US market (DJIA) closed with 1.38% cut while European market (DAX) closed with 0.41% gain, respectively.

Derivatives

* Derivatives data for Nifty suggest max OI addition at 18600 call and 17300 put side with max OI at 18000 call and 17500 put (25 Nov expiry). Nifty cumulative PCR closed at 0.78 for Nov 18.

* Derivatives data for Banknifty suggest max OI addition at 38000 call and 38000 put with max OI at 41000 call and 38000 put (25 Nov expiry). Banknifty cumulative PCR closed at 0.66 for Nov 18.

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

* Benchmark index traded with negative price action during the last week before closing with Bearish candlestick formation engulfing the previous two week’s body.

* Index is likely to trade with negative bias in the coming week.

* Benchmark Index has support at 17450 - 17250 and resistance at 18000 – 18200 level

BANKNIFTY (WEEKLY)

* Banking index traded on a negative note and closed lower forming bearish candlestick formation during the last week.

* Similar to Nifty, Banking Index is likely to trade with negative bias in the coming week.

* Banking index has support at 37000 - 36500 and resistance at 38700 – 39000 level

FINNIFTY (WEEKLY)

* FINNIFTY index traded volatile and closed with Bearish candlestick formation.

* Index is likely to trade in line with the Banking index.

* FINNIFTY has support at 18200 – 17950 level and resistance at 18900 – 19100 level.

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