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WEEK GONE BY

* Benchmark Index traded with positive bias and closed with 1.52% gain at 17,853 level. Banking index underperformed the benchmark index as it closed with minor 0.05% gain at 37,830 level

* Among the Nifty constituents, BAJAJFINSV and HCLTECH closed with 10% and 7.50% gains while TATASTEEL and BPCL lagged as they closed with 8.21% and 4.92% cut respectively. Among the Bank nifty constituents, HDFCBANK outperformed the Banking index as it closed with 1.23% gain

* Among sectors, REALTY and MEDIA index performed better as they closed the week with 21.22% and 11.71% gains while PSUBANK and METAL were the laggards as they closed with 4.42% and 3.27% cut respectively.

* Volatility index (India VIX) closed with 11.10% gain and closed at 16.92 level

* FII were net sellers during the week as they sold equities worth 8 Cr while DII were net buyers during the week as they bought equities worth 3048 Cr in the cash segment

* Globally, Equity markets closed higher during the week as US market (DJIA) and European market (DAX) closed with 0.62% and 0.27% gains, respectively.

Derivatives

* Derivatives data for Nifty suggest max OI addition at 18500 call and 17900 put side with max OI at 18500 call and 17000 put (30 Sep expiry). Nifty cumulative PCR closed at 1.27 for Sep 24.

* Derivatives data for Banknifty suggest max OI addition at 38000 call and 37000 put with max OI at 38000 call and 37000 put (30 Sep expiry). Banknifty cumulative PCR closed at 0.89 for Sep 24.

TECHNICAL OUTLOOK

Nifty (Weekly)

* Benchmark index traded with positive price action and closed with Bullish candlestick formation.

* Index is likely to consolidate its gains and trade rangebound with elevated volatility during the coming week. Nifty may see pull back around the psychological level of 18000 which may act as a strong resistance for the benchmark index.

* Benchmark Index has support at 17500 - 17300 and resistance at 18000 – 18200 level

Banknifty (Weekly)

* Banking index traded volatile during the last week and closed with long bottom shadow which indicates buying at lower levels.

* Index is likely to trade with mild positive bias albeit with heightened volatility.

* Banking index has support at 37140 - 36500 and resistance at 38500 - 39000 level

Finnifty (Weekly)

* FINNIFTY index traded with positive price action forming Bullish candlestick pattern.

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

.* FINNIFTY has support at 18300 - 18000 level and resistance at 18900 - 19100 level.

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