MARKET ROUNDUP
Nifty breached crucial 8000 levels on Thursday before witnessing a sharp recovery on Friday and closed the week almost flat. Banking stocks across the board fell sharply amid concerns related to depreciating currency and rising bond yields. However support was provided by Technology and Auto stocks
Major movers of the week were Bajaj Auto (8.9%), Hindalco Industries (8.1%), Hindustan Unilever (5.3%), HCL Tech (5.1%) and Bharti Airtel (4.4%) On the other hand, Nifty losers of the week were Bank Baroda (-14.1%), Punjab National Bank (-8.8%), NTPC Ltd (-5.5%), Axis Bank (-4.7%) and IDFC Ltd (-4.6%)

F&O HIGHLIGHTS
Nifty witnessed a sharp bounce on the back of good participation coming in all sectors. Towards the end, it managed to end 134 points higher. Nifty future premium declined and settled at 19 point. India VIX fell 2.75% to settle at 19.11
FIIs sold 438 crore while DIIs bought 1114 crore in the cash segment. FIIs bought 196 crore in index futures and 2123 crore in index options. In stock futures, they bought 1115 crore
The highest Put base is at the 8000 strike with 48 lakh shares while the highest Call base is at the 8500 strike with 46 lakh shares. The 8300 and 8500 Calls saw additions of 1.3 and 3.4 lakh shares, respectively. The 8000 and 8100 Put strikes saw additions of 3.8 and 9.4 lakh shares, respectively.

INDEX OUTLOOK
Nifty Future : Nifty is likely to open gap up on the back of strong global cues. It is likely to trade in the range of 8175-8285. Buy Nifty in the range of 8190-8200 for targets of 8230-8250, stop loss: 8175
Bank Nifty Future: Aggressive short-covering was seen last Friday where around 12% positions in futures were covered with a sharp rise in price to end towards 17800. The liquidation is likely to continue up to 18000-18100 unless the index is above 17500. Buy Bank Nifty in the range of 17760-17800, targets: 17900- 18000, stop loss: 17690.

STOCK ANALYSIS
OI addition : We saw long built up in Dabur, Hind zinc, Amtek auto, kotakbank, ongc,while short built up was seen petronet, cairn, irb , axisbank.
OI Shedding : We saw short covering in sksmicro, tcs, lichousing, mindtree,and long unwinding was seen in power grid.

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