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WEEK GONE BY

* Benchmark Index opened on a positive note and traded volatile before closing with 0.87% cut at 15722 level. Banking index underperformed the benchmark index as it closed with 1.57% cut at 34810 level

* Among the Nifty constituents, DIVISLAB and DRREDDY closed with 6.38% and 5.03% gains respectively while SHREECEM and HDFCLIFE lagged as they closed with 5.97% and 5.23% cut. Among the Bank nifty constituents, HDFCBANK underperformed the Banking index and closed with 2.31% cut

* Among sectors, PHARMA and FMCG index performed better as they closed the week with 3.27% and 0.58% gains respectively while METAL and ENERGY index were the laggards as they closed with 1.80% and 1.39% cut

* Volatility index (India VIX) closed with 9.57% cut at 12.09 level

* FII were net sellers during the week as they sold equities worth 5417 Cr while DII were net buyers as they bought equities 6418 Cr respectively in cash segment

* Globally, Equity markets closed with mild gains during the week as US market (DJIA) and European market (DAX) closed 1.02% and 0.27% higher, respectively.

Derivatives.

* Derivatives data for Nifty suggest max OI addition at 16300 call and 15600 put side with max OI at 15800 call and 15000 put (08 Jul expiry). Nifty cumulative PCR closed at 1.09 for Jul 02.

* Derivatives data for Banknifty suggest max OI addition at 35500 call and 34800 put with max OI at 35000 call and 34500 put (08 Jul expiry). Banknifty cumulative PCR closed at 0.83 for Jul 02.

TECHNICAL OUTLOOK

Nifty (Weekly)

* Benchmark index traded volatile and closed with Bearish Candlestick formation.

* Nifty is likely to trade range bound in the coming week.

* Benchmark Index has support at 15500 - 15300 and resistance at 16000 - 16200 level

Banknifty (Weekly)

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

* Banknifty is likely to trade range bound.

* Banking index has support at 34000 - 33500 and resistance at 35500 - 36000 level

Finnifty (Weekly)

* FINNIFTY index traded volatile and closed with Bearish Candlestick formation.

* Index is likely to trade in line with the Banking Index for the coming week.

* FINNIFTY has support at 16150 - 16000 level and resistance at 16800 - 17000 level.

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