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TECHNICAL OUTLOOK

NIFTY (WEEKLY)

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

* Post sharp run up in recent weeks, Index can see pullback in the coming week with 17800 level acting as a strong resistance for Nifty. Traders are advised to exercise caution at higher levels.

* Benchmark Index has support at 17250 - 17150 and resistance at 17800 – 18000 level

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BANKNIFTY (WEEKLY)

 * Banking index closed above previous swing high with Bullish candlestick formation.

* Banking Index is likely to outperform Nifty and it can pile up more gains if it sustains above 37700 levels.

* Banking index has support at 37140 - 36500 and resistance at 38400 - 38800 level

FINNIFTY (WEEKLY)

* FINNIFTY index traded with positive bias during the last week and closed with Bullish candlestick pattern.

* Similar to Banking index, FINNIFTY is likely to outperform Nifty in the coming week; it can register more gains if it sustains above 18500 levels.

* FINNIFTY has support at 18100 - 17900 level and resistance at 18800 - 19000 level.