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WEEK GONE BY

* Benchmark Index opened on a positive note and traded higher before closing with 1.79% gain at 16,529 level. Banking index underperformed the benchmark index as it closed with 1.00% gain at 36,169 level

* Among the Nifty constituents, HCLTECH and POWERGRID closed with 6.57% and 5.70% gains while EICHERMOT and SHREECEM lagged as they closed with 7.28% and 6.30% cut respectively. Among the Bank nifty constituents, HDFCBANK outperformed the Banking index as it closed with 2.21% gain

* Among sectors, IT and ENERGY index performed better as they closed the week with 4.40% and 1.37% gains while PHARMA and REALTY index were the laggards as they closed with 3.23% and 2.20% cut respectively

* Volatility index (India VIX) closed with 3.01% gain and closed at 12.99 level

* Both FII and DII were net buyers during the week as they bought equities worth 879 Cr and 2069 Cr in the cash segment

* Globally, Equity markets closed higher during the week as US market (DJIA) and European market (DAX) closed with 0.87% and 1.37% gains, respectively.

Derivatives.

* Derivatives data for Nifty suggest max OI addition at 16800 call and 16400 put side with max OI at 16800 call and 16400 put (18 Aug expiry). Nifty cumulative PCR closed at 1.73 for Aug 13.

* Derivatives data for Banknifty suggest max OI addition at 38000 call and 36000 put with max OI at 38000 call and 36000 put (18 Aug expiry). Banknifty cumulative PCR closed at 1.01 for Aug 13.

TECHNICAL OUTLOOK

Nifty (Weekly)

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

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

* Benchmark Index has support at 16350 - 16150 and resistance at 16700 - 16800 level

Banknifty (Weekly)

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

* Index is likely to trade with mild positive bias and price sustainability above immediate resistance of 36320 will trigger further positive momentum.

* Banking index has support at 35600 - 35200 and resistance at 36600 - 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 with mild positive price action.

* FINNIFTY has support at 17000 - 16800 level and resistance at 17600 - 17800 level.

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