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WEEK GONE BY​​​​​​​

* Benchmark Index opened on a positive note and traded higher for the week before closing with 2.07% gain at 17,895 level. Banking index lagged the benchmark index as it closed with 1.47% gain at 37,775 level

* Among the Nifty constituents, TATAMOTORS and TITAN closed with ~15% and 9% gains while CIPLA and SHREECEM lagged as they closed with 7% and 4.61% cut respectively. Among the Bank nifty constituents, INDUSINDBK outperformed the Banking index as it closed with 6.37% gain

* Among sectors, IT and MEDIA index performed better as they closed the week with 4.66% and 4.64% gains while FMCG and PHARMA were the laggards as they closed with 1.00% and 0.50% cut respectively.

* Volatility index (India VIX) closed with 9.06% cut and closed at 15.65 level

* FII were net sellers during the week as they sold equities worth 3686 Cr while DII were net buyers during the week as they bought equities worth 3458 Cr in the cash segment

* Globally, Equity markets closed higher during the week as US market (DJIA) and European market (DAX) closed with 1.12% and 0.33% gains, respectively.

Derivatives

* Derivatives data for Nifty suggest max OI addition at 18500 call and 17900 put side with max OI at 18000 call and 17800 put (14 Oct expiry). Nifty cumulative PCR closed at 1.30 for Oct 08.

* Derivatives data for Banknifty suggest max OI addition at 38000 call and 36500 put with max OI at 38000 call and 37000 put (14 Oct expiry). Banknifty cumulative PCR closed at 0.78 for Oct 08.

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

* Benchmark index closed higher for the week with bullish candlestick formation.

* Index is likely to consolidate within a broad range however, price sustainability above psychological resistance level of 18,000 can provide further upside momentum.

* Benchmark Index has support at 17600 - 17450 and resistance at 18200 – 18400 level

BANKNIFTY (WEEKLY)

* Banking index traded on a positive note and closed with Bullish candlestick formation.

* Index is likely to trade volatile however, Bank Nifty can gain more upside if it sustains above 38400 level.

* Banking index has support at 37000 - 36500 and resistance at 38400 – 39000 level

FINNIFTY (WEEKLY)

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

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

* FINNIFTY has support at 17900 – 17700 level and resistance at 18600 - 18800 level.

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