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WEEK GONE BY

* Benchmark Index opened on a positive note and traded higher before closing with 3.01% gain at 16238 level. Banking index outperformed the benchmark index as it closed with 3.54% gain at 35809 level

* Among the Nifty constituents, BHARTIARTL and HDFC closed with 8.18% and 7.66% gains while UPL and ULTRACEMCO lagged as they closed with 3.84% and 1.19% cut respectively. Among the Bank nifty constituents, KOTAKBANK outperformed the Banking index as it closed with 7.37% gain

* Among sectors, BANKING and IT index performed in line with benchmark index as they closed the week with 3.54% and 2.70% gains respectively while MEDIA index was the laggard as it closed with 4.45% cut

* Volatility index (India VIX) closed with 1.56% cut and closed at 12.61 level

* Both FII and DII were net buyers during the week as they bought equities worth 2616 Cr and 897 Cr in the cash segment

* Globally, Equity markets closed higher during the week as US market (DJIA) and European market (DAX) closed with 0.78% and 1.40% gains, respectively.

Derivatives.

* Derivatives data for Nifty suggest max OI addition at 16400 call and 15500 put side with max OI at 16300 call and 15500 put (12 Aug expiry). Nifty cumulative PCR closed at 1.40 for Aug 06.

* Derivatives data for Banknifty suggest max OI addition at 36000 call and 35000 put with max OI at 36000 call and 35000 put (12 Aug expiry). Banknifty cumulative PCR closed at 0.87 for Aug 06.

TECHNICAL OUTLOOK

Nifty (Weekly)

* Benchmark index opened on a positive note and traded higher. It closed with Bullish candlestick formation.

* Index is likely to trade range bound and will gain upside momentum above immediate resistance of 16350 level.

* Benchmark Index has support at 16000 - 15800 and resistance at 16350 - 16550 level

Banknifty (Weekly)

* Banking index traded on a positive note and closed with Bullish candlestick formation.

* Index is likely to trade in a broad range with price sustainability above immediate resistance of 36000 will trigger further momentum.

* Banking index has support at 35000 - 34500 and resistance at 36500 - 37000 level

Finnifty (Weekly)

* FINNIFTY index traded on a positive note and closed with Bullish candlestick formation. +

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

* FINNIFTY has support at 16700 - 16500 level and resistance at 17500 - 17700 level.

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