Last week BAJFINANCE Oct Futures started the week on positive note and made a high of 2369 during the week but till end of the week, all of its earlier gains were erased and it closed at 2143.35 with the overall loss of 6.50 per cent on weekly basis. Technically BAJFINANCE Oct Futures sustaining near to the major support levels and for this week, we can expect short covering in it from the lower levels.
For this week, traders can adopt buy on lower higher level strategy in it and above the level of 2220, it can test the level of Rs. 2320 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 2195

Last week MARUTI Oct Futures started the week on positive note and made a high of 7323.95 during the week but till end of the week, all of its earlier gains were erased and it closed at 6771.35 with the overall loss of 7.12 per cent on weekly basis. Technically MARUTI Oct Futures sustaining near to the major support levels and for this week, we can expect short covering in it from the lower levels.

For this week, traders can adopt buy on lower higher level strategy in it and above the level of 6190, it can test the level of Rs. 7210 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 6810
SUNPHARMA NSE CASH:
Overall trend of the Stock is sideways for long term . For short-medium term stock is in bullish phase. Last week, it started on positive note and traded with sideways movement throughout the week. On daily chart it has gave breakout of its major trend line up side. On intraday chart it is consolidating on higher levels. If it manages to trade above the levels of 617 than further upside move can be seen in it
For this week, traders can adopt buy on lower level strategy in it and above the level of 617 it can test the level of Rs. 637 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 605.

GLENMARK NSE CASH:
Overall trend of the Stock is sideways for long term . For short-medium term stock is in consolidation phase . Last week stock started on positive note but could not maintain its positive run and it traded with negative sentiment throughout the week. On daily chart it is consolidating on lower levels and forming double bottom. If it manages to trade above 621 levels than further upside move can be seen in it. In intraday it showed a good positive move.

For this week, traders can adopt buy on lower level strategy in it and above the level of 621 it can test the level of Rs. 644 during the week. Trades can make buy position in it by maintaining a Stop Loss of Rs. 609
Technical outlook:
Nifty:
The Nifty futures started the last week on positive note on Monday and traded with positive sentiments for first couple of sessions. But on Wednesday's trading session Index opened on a huge gap up note but could not sustain on higher levels as soon it showed a sharp selling from higher levels. last session was also dominated by bears as index touched intraday low of 10246.35 but manages to close above 10300 levels . On weekly basis index give closing with 168.75 points loss or 1.68% loss. Last week index again successfully defended its major support levels of 10155.55 which is swing low for the index. On weekly charts this sell off resulted in 'Bearish Engulfing' formation as current week's candle body completely covered the candle body of last week which appears to have negated the bullish connotations of preceding week's Hammer formation. If indices breach 10246.35 in next week itself then it can retest the recent corrective swing lows of 10155.55 levels. while upside resistance is placed at 10425 levels. On option front, maximum Put open interest (OI) was at 10000 followed by 10200 strike while maximum Call OI was at 11000 followed by 10600 strikes.
For this week, traders can adopt sell on higher level strategy in it and below the level of 10240. It can test the level of Rs. 10110 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 10350.

Bank Nifty:
The Nifty Bank index started the last week on flat note on Monday and traded with high volatility throughout the week. On Tuesday Index showed some positive movement throughout the day but on Wednesday it showed sharp selling from higher levels as it tanked more than 600 points in a single day. Last trading session was again sideways for the index and it given closing with 191 points loss or 0.76% loss on weekly basis. Bank nifty managed to give closing above its important support levels of 25000 after breaching this levels on Friday. Going ahead, If index manages to breach 25000 levels than further down side movement can be seen in it while upside resistance is placed at 25350 levels.
For this week, traders can adopt sell on higher level strategy in it and below the level of 25000. It can test the level of Rs. 24700 during the week. Trades can make sell position in it by maintaining a Stop Loss of Rs. 25201.


Nifty:
Fundamentals:

Last week, our Indian Equity market showed a roller costar ride as our benchmark indices Nifty showed some strength in first couple of trading session which made the hopes of some relief in the market but in last two trading sessions all the hopes gone vanished as index lost more than 350 points in last two sessions. The truncated week ended on negative note with Nifty closed a tad above the important support level of 10300. The market remained volatile as it started the week on the positive note but failed to keep the upward momentum on the back of weak global cues. While on domestic front mixed earnings, WPI Inflation, NBFCs and housing finance companies woes have put pressure on the indices. Good numbers by some of the index heavyweights also could not make any impact on the market. On the economy front, September CPI inflation was flat at 3.77 percent against 3.69 percent, MoM, while WPI inflation rose to 5.13 percent in September from 4.53 percent in August. August IIP was at 4.3 percent versus 6.5 percent in July. On Friday, rupee has appreciated against the US dollar as it ended higher by 28 paise at 73.32 against Wednesday's close of 73.60. Rupee. Foreign investors were net sellers last week, while domestic institutions remained buyers. Crude oil price was the major relief factor last week as it tanked more than 4 % , giving some hope to Indian equity market in near future.


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