IGI Logo

WEEK GONE BY

* Benchmark Index traded volatile during the previous week before closing with 0.30% marginal gain at 17758 level. Banking index lagged in comparison with the benchmark index as it closed with minor 0.10% cut at 38986 level

* Among the Nifty constituents, ADANIPORT and EICHERMOT closed with 10.60% and 6.70% gains while ONGC and UPL were the laggards as they closed with 3.30% and 2.60% cut respectively. Among the Bank nifty constituents, SBIN underperformed the Banking index as it closed with 2.00% cut

* Among sectors, REALTY and INFRA index outperformed the benchmark index during the previous week as they closed with 1.60% and 1.50% gains respectively while PSUBANK and PHARMA index were the laggards as they closed with 1.10% and 0.50 cut respectively

* Volatility index (India VIX) closed with 3.80% gain at 18.29 level

* FII were net buyers during the week as they bought equities worth 3129 Cr while DII were net sellers during the week as they sold equities worth 1809 Cr in the cash segment

* Globally, Equity markets traded weak during the week as US market (DJIA) and European market (DAX) closed with 0.2% and 1.8% cut respectively

Derivatives

? Derivatives data for Nifty suggest max OI addition at 18000 call and 17300 put side with max OI at 18000 call and 17000 put (25Aug expiry). Nifty cumulative PCR closed at 0.88 for Aug19.

? Derivatives data for Banknifty suggest max OI addition at 39500 call and 38500 put with max OI at 39500 call and 38000 put (25Aug expiry). Banknifty cumulative PCR closed at 0.69 for Aug19.

NIFTY (WEEKLY)

* Benchmark index traded volatile before closing with “Shooting Star” candlestick formation during the last week.

* Index is likely to witness some profit booking which may drag Nifty to an immediate support level at 17400 during the upcoming week.

* Benchmark Index has support at 17,400 – 17,250 level and resistance at 18,000 – 18,100 level

BANKNIFTY (WEEKLY)

* Banking index witnessed profit booking at higher levels and closed with bearish reversal pattern during the last week.

* Similar to benchmark index, Bank Nifty may see further pullback from the current levels.

* Banking index has support at 38,000 – 37,500 and resistance at 39,500 – 40,000 leve

FINNIFTY (WEEKLY)

* FINNIFTY index traded volatile and closed with bearish reversal candlestick formation. ? Index is likely to trade on a similar line with that to Banking index during the forthcoming week.

* FINNIFTY has support at 17,700 – 17,500 level and resistance at 18,400 – 18,600 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 Disclaimer