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WEEK GONE BY

* Benchmark Index traded on a positive note during the previous week as it closed with 1.70% gain at 17698 level. Banking index outperformed the benchmark index as it closed with 3.00% gain at 39042 level

* Among the Nifty constituents, COALINDIA and HINDALCO closed with 6.30% and 6.20% gainwhile DIVISLAB and ULTRACEMCOwere the laggards as they closed with 4.80% and 3.20% cut respectively. Among the Bank nifty constituents, AXISBANK outperformed the Banking index as it closed with 4.40% gain

* Among sectors, METAL and BANKING index outperformed the benchmark index during the previous week as they closed with 4.60% and 3.00% gains while MEDIA and FMCG index were the laggards as they closed with 2.10% and 1.10 cut respectively

* Volatility index (India VIX) closed with 6.90% cut at 17.61 level

* FII were net buyers during the week as they bought equities worth 7850 Cr while DII were net sellers during the week as they sold equities worth 2478 Cr in the cash segment

* Globally, Equity markets traded with positive bias during the week as US market (DJIA) and European market (DAX) closed with 2.9% and 1.6% gain respectively

Derivatives

* Derivatives data for Nifty suggest max OI addition at 17800 call and 17000 put side with max OI at 17800 call and 17000 put (18Aug expiry). Nifty cumulative PCR closed at 1.24 for Aug12.

* Derivatives data for Banknifty suggest max OI addition at 40000 call and 39000 put with max OI at 40000 call and 39000 put (18Aug expiry). Banknifty cumulative PCR closed at 1.23 for Aug12.

NIFTY (WEEKLY)

* Benchmark index traded on a positive note and closed with bullish candlestick formation during the last week.

* While the overall bias remains positive on the benchmark index, possibility of pullback can’t be ruled out after four consecutive weeks of gains.

* Benchmark Index has support at 17,500 – 17,300 level and resistance at 17,900 – 18,100 level

BANKNIFTY (WEEKLY)

* Banking index outperformed the benchmark index and traded on a positive note forming bullish candlestick pattern during the last week.

* Banking index is likely to trade in line with the benchmark index during the next week. Any price pullback should be taken as a buying opportunity.

* Banking index has support at 38,500 – 38,000 and resistance at 39,700 – 40,200 level

FINNIFTY (WEEKLY)

* FINNIFTY index traded with positive price action and closed with bullish candlestick formation.

* Index is likely to trade on a similar line with that to Banking index during the forthcoming week.

* FINNIFTY has support at 17,800 – 17,600 level and resistance at 18,400 – 18,600 level

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