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WEEK GONE BY

* Benchmark Index closed with 2.45% weekly cut at 17,672 level. Banking index underperformed the benchmark index as it closed with 3.00% cut at 39,116 level

* Among the Nifty constituents, ULTRACEMCO and ASIANPAINT closed with 6.80% and 3.96% gains while AXISBANK and NTPC lagged as they closed with 9.15% and 8.45% cut respectively. Among the Bank nifty constituents, AXISBANK underperformed the Banking index as it closed with 9.15% cut.

* Among sectors, MNC and PSUBANK index performed better as they closed the week with 0.31% and 0.07% gains while PSE and ENERGY were the laggards as they closed with 4.35% and 4.30% cut respectively.

* Volatility index (India VIX) closed with 0.68%% cut and closed at 17.43 level

* FII were net sellers during the week as they sold equities worth 15702 Cr while DII were net buyers during the week as they bought equities worth 9428 Cr in the cash segment

* Globally, Equity markets closed higher during the week as US market (DJIA) and European market (DAX) closed with 0.40% and 0.94% gains, respectively.

Derivatives

* Derivatives data for Nifty suggest max OI addition at 18000 call and 16000 put side with max OI at 18000 call and 17000 put (03 Nov expiry). Nifty cumulative PCR closed at 0.75 for Oct 29.

* Derivatives data for Banknifty suggest max OI addition at 41500 call and 38000 put with max OI at 41000 call and 39000 put (03 Nov expiry). Banknifty cumulative PCR closed at 0.60 for Oct 29.

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

* Benchmark index traded volatile and closed with Bearish candlestick formation in the last week.

* After the recent fall, Nifty has reached near to its immediate support zone of 17550-17600, sustenance below this zone can trigger further downside.

* Benchmark Index has support at 17350 - 17250 and resistance at 18000 – 18100 level

BANKNIFTY (WEEKLY)

* Banking index traded volatile and closed with Bearish Engulfing candlestick pattern.

* Volatility can remain elevated in the coming week as well in the Banking Index.

* Banking index has support at 38200 - 37800 and resistance at 40000 – 40500 level

FINNIFTY (WEEKLY)

* FINNIFTY index traded volatile and closed with Bearish engulfing candlestick formation.

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

* FINNIFTY has support at 18300 - 18100 level and resistance at 19200 - 19400 level.

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