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WEEK GONE BY

* Benchmark Index traded in a narrow range for the week gone by and closed with 1.39% minor gain at 17,917 level. Banking index slightly underperformed the benchmark index as it closed with 1.17% gain at 39,574 level

* Among the Nifty constituents, LT and EICHERMOT closed with 8.04% and 7.12% gains while ICICIBANK and RELIANCE lagged as they closed with 2.49% and 1.46% cut respectively. Among the Bank nifty constituents, SBIN outperformed the Banking index as it closed with 5.67% gain.

* Among sectors, REALTY and PSUBANK index performed better as they closed the week with 9.82% and 4.53% gains respectively.

* Volatility index (India VIX) closed with 9.64% cut and closed at 15.75 level

* FII were net sellers during the week as they sold equities worth 358 Cr while DII were net buyers during the week as they bought equities worth 306 Cr in the cash segment

* Globally, Equity markets closed higher during the week as US market (DJIA) and European market (DAX) closed with 1.42% and 3.31% gains, respectively.

Derivatives

* Derivatives data for Nifty suggest max OI addition at 19000 call and 17000 put side with max OI at 18000 call and 17500 put (11 Nov expiry). Nifty cumulative PCR closed at 1.01 for Nov 03.

* Derivatives data for Banknifty suggest max OI addition at 40000 call and 39000 put with max OI at 40000 call and 39000 put (11 Nov expiry). Banknifty cumulative PCR closed at 0.72 for Nov 03.

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

* Benchmark index traded in a narrow range and closed with small bullish candlestick formation in the last week.

* Index is likely to consolidate in a broad range with 18050 acting as a crucial resistance level.

* Benchmark Index has support at 17650 - 17500 and resistance at 18200 – 18350 level.

BANKNIFTY (WEEKLY)

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

* Similar to Nifty, Banking Index is likely to trade range bound albeit with elevated volatility.

* Banking index has support at 39000 - 38500 and resistance at 40200 – 40800 level.

FINNIFTY (WEEKLY)

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

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

* FINNIFTY has support at 18700 - 18500 level and resistance at 19300 - 19500 level.

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