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WEEK GONE BY

* Benchmark Index traded on a positive note for the week and closed with 2.48% gain at 18,339 level. Banking index outperformed the benchmark index as it closed with 4.15% gain at 39,341 level

* Among the Nifty constituents, TATAMOTORS and ITC closed with ~30% and 10.73% gains while TCS and HDFCLIFE lagged as they closed with 8.24% and 3.92% cut respectively. Among the Bank nifty constituents, SBIN outperformed the Banking index as it closed with 7.12% gain

* Among sectors, PSUBANK and AUTO index performed better as they closed the week with 6.55% and 6.51% gains while IT lagged as it closed with 1.80% cut.

* Volatility index (India VIX) closed with 0.77% gain and closed at 15.77 level

* FII were net buyers during the week as they bought equities worth 1037 Cr while DII were net sellers during the week as they sold equities worth 3297 Cr in the cash segment

* Globally, Equity markets closed higher during the week as US market (DJIA) and European market (DAX) closed with 1.58% and 2.51% gains, respectively.

Derivatives

* Derivatives data for Nifty suggest max OI addition at 19000 call and 18300 put side with max OI at 19000 call and 18100 put (21 Oct expiry). Nifty cumulative PCR closed at 1.53 for Oct 14.

* Derivatives data for Banknifty suggest max OI addition at 41500 call and 39000 put with max OI at 40000 call and 38500 put (21 Oct expiry). Banknifty cumulative PCR closed at 1.12 for Oct 14.

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

* Benchmark index traded on a positive note for the week gone by and closed with strong Bullish candlestick formation.

* Index is likely to trade with positive bias and continue with its upside momentum in the coming week as well.

* Benchmark Index has support at 18200 - 18000 and resistance at 18600 – 18800 level

BANKNIFTY (WEEKLY)

* Banking index opened on a positive note and traded higher forming strong Bullish candlestick pattern.

* Banking Index is likely to trade with positive bias and gain more upside in the coming week after giving fresh break out on the charts.

* Banking index has support at 38800 - 38400 and resistance at 40300 – 40700 level

FINNIFTY (WEEKLY)

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

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

* FINNIFTY has support at 18600 – 18400 level and resistance at 19400 – 19600 level.

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