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WEEK GONE BY

* Benchmark Index traded higher before closing with 1.54% weekly gain at 16,705 level. Banking index performed slightly better compared to the benchmark index as it closed with 1.70% gain at 35,628 level +

* Among the Nifty constituents, BAJAJFINSV and HDFCLIFE closed with 8.12% and 5.39% gains while MARUTI and BHARTIARTL lagged as they closed with 3.30% and 3.09% cut respectively. Among the Bank nifty constituents, HDFCBANK outperformed the Banking index as it closed with 2.18% gain

* Among sectors, ENERGY and IT index performed better as they closed the week with 3.06% and 2.88% gains while AUTO and MEDIA index were the laggard as they closed with 1.12% and 0.68% cut respectively

* Volatility index (India VIX) closed with 4.35% cut and closed at 13.41 level 

* FII were net sellers during the week as they sold equities worth 6833 Cr while DII were net buyers during the week as they bought equities worth 6383 Cr in the cash segment

* Globally, Equity markets closed higher during the week as US market (DJIA) and European market (DAX) closed with 0.96% and 0.28% gains, respectively.

Derivatives

* Derivatives data for Nifty suggest max OI addition at 17100 call and 16700 put side with max OI at 17000 call and 16600 put (02 Sep expiry). Nifty cumulative PCR closed at 1.40 for Aug 27.

* Derivatives data for Banknifty suggest max OI addition at 37500 call and 35500 put with max OI at 36000 call and 35500 put (02 Sep expiry). Banknifty cumulative PCR closed at 0.99 for Aug 27.

TECHNICAL OUTLOOK

Nifty (Weekly)

* Benchmark index traded volatile and managed to close on a positive note while forming Hanging man candlestick formation.

* Index is likely to trade with mild positive bias and momentum will accelerate once prices sustain above immediate resistance of 16720 level.

* Benchmark Index has support at 16550 - 16350 and resistance at 17000 - 17200 level

Banknifty (Weekly)

* Banking index traded with volatile price action and closed with Doji candlestick formation.

* Index is likely to trade within a broad range and price sustainability above immediate resistance of 35,910 level will provide impetus for further upside.

* Banking index has support at 35200 - 34700 and resistance at 36500 - 37000 level

Finnifty (Weekly)

* FINNIFTY index traded on a positive note and closed with Bullish candlestick formation while forming moderate lower shadow.

* Index is likely to trade with mild positive bias in the coming week.

* FINNIFTY has support at 17300 - 17100 level and resistance at 18000 - 18200 level.

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