IGI Logo

WEEK GONE BY

* Benchmark Index opened on a positive note and traded higher before closing with 1.72% gain at 15436 level. Banking index lagged the benchmark index as it closed with 1.54% gain at 35141 level

* Among the Nifty constituents, RELIANCE and INFY closed with 4.80% and 3.70% gains respectively while SUNPHARMA and HINDUNILVR lagged as they closed with 2.90% and 1.70% cut. Among the Bank nifty constituents, SBIN outperformed the Banking index as it closed with 5.24% gain

* Among sectors, PSU BANK and IT index performed better as they closed the week with 4% and 3.90% gains respectively while METAL index was the laggards as it closed with 0.84% cut

* Volatility index (India VIX) closed with 8.80% cut at 17.40 level

* FII were net Buyers during the week as they bought equities worth 2039 Cr while DII were net sellers as they sold equities worth 322 Cr in cash segment

* Globally, Equity markets closed with gains during the week as US market (DJIA) and European market (DAX) closed 0.94% and 0.53% higher, respectively

Derivatives.

* Derivatives data for Nifty suggest max OI addition at 16000 call and 15400 put side with max OI at 16000 call and 15300 put (03 Jun expiry). Nifty cumulative PCR closed at 1.32 for May 28.

* Derivatives data for Banknifty suggest max OI addition at 37500 call and 35000 put with max OI at 35500 call and 35000 put (03 Jun expiry). Banknifty cumulative PCR closed at 0.75 for May 28.

TECHNICAL OUTLOOK

Nifty (Weekly)

* Benchmark index traded on a positive note and closed above all time high with Bullish Candlestick formation.

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

* Benchmark Index has support at 15200 - 15000 and resistance at 15800 - 16000 level

Banknifty (Weekly)

* Banking index traded volatile with positive price action and closed with Bullish Candlestick formation.

* Index is likely to trade in a broad range with mild positive bias.

* Banking index has support at 34000 - 33500 and resistance at 36200 - 36700 level

Finnifty (Weekly)

* FINNIFTY index traded in a narrow range and closed with “Doji” Candlestick formation.

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

* FINNIFTY has support at 16000 - 15700 level and resistance at 17000 - 17200 level.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at  https://www.mnclgroup.com/disclaimer

SEBI Registration Number : INZ000043833

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaime