IGI Logo

WEEK GONE BY

* Benchmark Index traded with negative bias during the previous week as it closed with 2.3% cut at 16202 level. Banking index traded inline with the benchmark index as it closed with 2.2% cut at 34484 level

* Among the Nifty constituents, ONGC and BAJAJAUTO closed with 8.60% and 5.67% gains while SHREECEM and ASIANPAINT were the laggards as they closed with 7.0% and 6.10% cut respectively. Among the Bank nifty constituents, AUBANK underperformed the Banking index as it closed with 4.60% cut while BANKBARODA outperformed as it closed with 2.6% gain

* Among sectors, AUTO index outperformed the benchmark index during the previous week as it closed with 0.90% gains

* Volatility index (India VIX) closed with 1.6% cut at 19.6 level

* FII were net sellers during the week as they sold equities worth12660 Cr while DII were net buyers during the week as they bought equities worth 9611 Cr in the cash segment

* Globally, Equity markets traded with negative bias during the week as European market (DAX) and US market (DJIA)closed with 4.8% and 4.5% cut respectively.

Derivatives

* Derivatives data for Nifty suggest max OI addition at 16300 call and 15800 put side with max OI at 17000 call and 15000 put (16Jun expiry). Nifty cumulative PCR closed at 0.88 for Jun 10.

* Derivatives data for Banknifty suggest max OI addition at 38000 call and 34500 put with max OI at 35000 call and 34500 put (16Jun expiry). Banknifty cumulative PCR closed at 0.69 for Jun10.

Nifty (Weekly)

* Benchmark index broke important pivot level of 16400 as it closed with bearish candlestick formation on the weekly chart.

* Index is likely to trade with negative bias during the upcoming week although volatility is likely to remain elevated.

* Benchmark Index has support at 15,650 – 15,400 level and resistance at 16,400 – 16,600 level

Bank Nifty (Weekly

* Banking index underperformed the benchmark index and closed with negative candlestick formation during the last week.

* Banking index is likely to trade in line with benchmark indexduring the upcoming week.

* Banking index has support at 33,000 – 32,200 and resistance at 35,000 – 35,500 level

FinNifty (Weekly)

* FINNIFTY underperformed the benchmark index and closed with negative candlestick formation

* Index is likely to trade in line with benchmark index during upcoming week

* FINNIFTY has support at 15,200 – 14,800 level and resistance at 16,000 – 16,200 level

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at  https://www.mnclgroup.com/disclaimer

SEBI Registration Number : INZ000043833

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer