After a weak start on Monday Nifty surged to a new all-time high of 17935 and settled at 17853 up by 1.42% on weekly basis. Bank Nifty also surged to a high of 38175 and settled at 37854 up by 0.01% on weekly basis supportive on global cues post US Fed meeting outcome.
Lets look the the previous weeks top 3 index gainers and loosers on Weekly basis.
| Top Weekly Gainers | ||
| Name | LTP | %change |
| Bajaj Finserv | 18526 | 10% |
| HCL Tech | 1358 | 7.5% |
| ONGC | 136 | 6.5% |
| Top Weekly Losers | ||
| Name | LTP | %change |
| Tata Steel | 1272 | 8.2% |
| BPCL | 414.80 | 4.9% |
| Tata Con | 836.75 | 4.3% |
On the sectoral front, Nifty Realty index outperform other indices with a gain of over 20 percent and Media index rose 11 percent. On the other hand, Nifty Metal and PSU Bank indices fell 3-4 percent.
Nifty:
After making a high at 17935 nifty now has an important resistance at 18000 levels. Open Interest data indicates that
Call:
Maximum OI is at 18500 followed by 18000 levels
Put:
Max OI on put side is at 17000 followed by 17500 and 17700 levels.
OI data indicates the Nifty has an important resistance at 18000 levels and above that it has a potential to touch 18500 levels. But any longs here should be made with caution since on daily chart the index has formed a negative divergence. Immediate support for the index remains at 17800 / 17616 levels.
Bank Nifty:
Bank Nifty’s OI data suggests that
Call:
Maximum OI is at 38000 levels followed by 40000 and 39000 levels
Put:
Maximum OI is at 37000 followed by 37500 and 36000 levels
On daily chart banknifty indicates double top kind of pattern which indicates that the previous high of 38225 will act as a crucial resistance for the index above which it can test 38615 & 40945. It has an immediate support at 37450 / 37077 levels.
A few stocks that have closed above the previous weeks high with volumes are
Tata Chem:
CMP 885 Looks good above 890 for a target of 948 & Above.
AsianPaint:
CMP 3448 looks good at CMP and on DIPS till 3400 & 3340 for a target of 3513 / 3571 / 3655
BergerPaint:
CMP 840 looks good above 855 for a target of 865 / 880 / 925.
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