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WEEK GONE BY

* Benchmark Index opened on a positive note and traded volatile for the week gone by as it closed with 1.22% cut at 18,115 level. Banking index outperformed the benchmark index as it closed with 2.50% gain at 40,324 level

* Among the Nifty constituents, KOTAKBANK and TECHM closed with 7.60% and 6.05% gains while ASIANPAINT and HINDALCO lagged as they closed with 9.56% and 8.85% cut respectively. Among the Bank nifty constituents, KOTAKBANK outperformed the Banking index as it closed with 7.61% gains

* Among sectors, PSUBANK and BANKING index performed better as they closed the week with 3.75% and 2.50% gains while FMCG and METAL were the laggards as they closed with 6.05% and 5.47% cut respectively.

* Volatility index (India VIX) closed with 11.29% gain and closed at 17.55 level

* FII and DII were net sellers during the week as they sold equities worth 7353 Cr and 4505 Cr respectively in the cash segment

* Globally, Equity markets closed mixed during the week as US market (DJIA) closed with 1.08% gain while European market (DAX) closed with 0.28% cut.

Derivatives

* Derivatives data for Nifty suggest max OI addition at 19000 call and 17500 put side with max OI at 19000 call and 17500 put (28 Oct expiry). Nifty cumulative PCR closed at 0.82 for Oct 22.

* Derivatives data for Banknifty suggest max OI addition at 43000 call and 40000 put with max OI at 40500 call and 40000 put (28 Oct expiry). Banknifty cumulative PCR closed at 1.02 for Oct 22.

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

* Benchmark index traded volatile and closed with Bearish candlestick formation in the last week.

* Index is likely to trade volatile in a broad range in the monthly expiry week.

* Benchmark Index has support at 17900 - 17700 and resistance at 18400 – 18600 level

BANKNIFTY (WEEKLY)

* Banking index opened gap-up and continued to log further gains, forming Bullish candlestick pattern.

* Index is likely to continue its outperformance vis-à-vis Nifty and trade with positive bias in the upcoming week.

* Banking index has support at 39500 - 39000 and resistance at 41000 – 41800 level

FINNIFTY (WEEKLY)

* FINNIFTY index opened on a positive note and closed with Bullish candlestick formation on weekly chart.

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

* FINNIFTY has support at 19000 - 18700 level and resistance at 19600 – 19900 level.

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