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TECHNICAL OUTLOOK

NIFTY (WEEKLY)

* Benchmark Index traded volatile during expiry week before closing with 1.80% cut at 17,532 level. Banking index performed in line with the benchmark index as it closed with 1.60% cut at 37,226 level

* Among the Nifty constituents, COALINDIA and NTPC closed with 13.60% and 12.60% gains while TECHM and BHARTIARTL lagged as they closed with 9.47% and 8.59% cut respectively. Among the Bank nifty constituents, INDUSINDBK underperformed the Banking index as it closed with 5.07% cut

* Among sectors, ENERGY and PHARMA index performed better as they closed the week with 5.92% and 2.09% gains while IT and FMCG were the laggards as they closed with 6.26% and 1.68% cut respectively.

* Volatility index (India VIX) closed with 1.71% gain and closed at 17.21 level

* FII were net sellers during the week as they sold equities worth 6093 Cr while DII were net buyers during the week as they bought equities worth 4305 Cr in the cash segment

* Globally, Equity markets closed lower during the week as US market (DJIA) and European market (DAX) closed with 1.36% and 2.41% cuts, respectively.

Derivatives

* Derivatives data for Nifty suggest max OI addition at 18500 call and 17400 put side with max OI at 18500 call and 17400 put (07 Oct expiry). Nifty cumulative PCR closed at 0.98 for Oct 01.

* Derivatives data for Banknifty suggest max OI addition at 37000 call and 37000 put with max OI at 38000 call and 37000 put (07 Oct expiry). Banknifty cumulative PCR closed at 0.76 for Oct 01.

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

* Benchmark index traded volatile for the monthly expiry week and closed with negative price action forming Bearish candlestick formation.

* Index is likely to trade volatile within a broad range for the coming week.

* Benchmark Index has support at 17250 - 17000 and resistance at 17800 – 18000 level

BANKNIFTY (WEEKLY)

* Banking index traded volatile within a broad range and closed with “Bearish Engulfing” candlestick formation.

* Index is likely to trade volatile within a broad range during the coming week with 36500 & 38000 levels acting as an immediate support & resistance levels to trigger move in either direction, on their breach.

* Banking index has support at 36500 - 36000 and resistance at 38000 – 38500 level

FINNIFTY (WEEKLY)

* FINNIFTY index traded with negative price action forming Bearish engulfing candlestick pattern.

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

* FINNIFTY has support at 17800 – 17500 level and resistance at 18500 - 18800 level.

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