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WEEK GONE BY

* Benchmark Index traded volatile in the week gone by before closing with 1% gain at 18102 level. Banking index underperformed the benchmark index as it closed with 2.1% cut at 38733 level

* Among the Nifty constituents, M&M and BHARTIARTL closed with 7.4% and 6% gains while INDUSINBK and DIVISLAB underperformed as they closed with 12.7% and 6.8% cut respectively. Among the Bank nifty constituents, KOTAKBANK outperformed the Banking index as it closed with 0.8% gain

* Among sectors, IT index performed better as it closed the week with 2.8% gain. Among the IT index, LTI was the top performer as it closed with 7% gain

* Volatility index (India VIX) closed with 3.4% cut and closed at 15.22 level

* FII were net sellers during the week as they sold equities worth 3317 Cr while DII were net buyers during the week as they bought equities worth 5888 Cr in the cash segment

* Globally, Equity markets were mixed during the week as US market (DJIA) closed with 0.6% cut while European market (DAX) closed with 0.2% gain

Derivatives

* Derivatives data for Nifty suggest max OI addition at 18500 call and 18000 put side with max OI at 18500 call and 18000 put (18 Nov expiry). Nifty cumulative PCR closed at 1.16 for Nov 12.

*  Derivatives data for Banknifty suggest max OI addition at 38500 call and 38500 put with max OI at 38500 both on call & put side (18 Nov expiry). Banknifty cumulative PCR closed at 0.70 for Nov 12.

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

* Benchmark index traded volatile before closing with small bullish candlestick formation in the previous week

* Nifty has staged a comeback from the lows and can gain more upside if it sustains above 18100 level.

* Benchmark Index has support at 17800 - 17650 and resistance at 18350 – 18500 level

BANKNIFTY (WEEKLY)

* Banking index traded with negative bias and closed with bearish candlestick formation

* Banking Index is likely to trade in a broad range albeit with heightened volatility in the coming week

* Banking index has support at 38000 - 37300 and resistance at 39500 – 40200 level

FINNIFTY (WEEKLY)

* FINNIFTY index traded volatile and closed with Doji candlestick formation for second week in a row

* Index is likely to trade in line with the Benchmark index

* FINNIFTY has support at 18600 - 18300 level and resistance at 19300 - 19600 level.

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