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Key Highlights

NIFTY opens the week above the 16500 mark

NIFTY SPOT: 16496.45 (0.28%)

DYNAMIC PARAMETER: NIFTY ends the session near the previous session high

TRADING ZONE: Resistance: 16592 (Daily high) / 16701 (Lifetime high)

Support: 16440 (Multiple touch point level) / 16334 (Multiple touch point level)

BROADER MARKET: UNDERPERFORMED,

MIDCAP 26892.70 (- 0.86%), SMALLCAP 9668.45 (-0.68)

Advance-Decline: 426 / 1584

VIEW: Bullish till above 16162 (3 Week Low).

BANKNIFTY SPOT: 35033.85 (-1.46%)

DYNAMIC PARAMETER: Index sustains below 20 Day SMA

TRADING ZONE:

Resistance: 35306 (Previous session high) / 35435 (20 Day SMA)

Support: 34926 (Previous session Low) / 34445 (Key Support)

VIEW: Bearish till below 35435 (20 Day SMA).

Key Highlights:

* Nifty August Futures ended 60.55 points down @ 16494.25 with a discount of 2.20 points.

* Nifty futures open interest decreased by 12.54 lakh shares with August series total open interest stands at 0.96 crore shares.

* Nifty 16600 call has highest OI, whereas 16000 put holds the highest OI and Banknifty 36000 call has highest OI and 35000 put has highest OI.

* Nifty 16600 call saw addition of 10.95 lakh shares in OI, whereas 16500 put saw addition of 8.79 lakh shares In OI.

* India VIX ended 2.35% down @ 13.69 against the previous close of 14.02

Technical Snapshot

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