{"id":13087,"date":"2020-08-08T05:50:09","date_gmt":"2020-08-08T05:50:09","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=13087"},"modified":"2020-08-08T05:50:09","modified_gmt":"2020-08-08T05:50:09","slug":"markets-end-the-week-on-a-positive-note-nifty-bank-nifty-close-higher","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=13087","title":{"rendered":"Markets end the week on a positive note; Nifty, Bank Nifty close higher"},"content":{"rendered":"

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\tTechnical<\/strong>
\n\tThe Nifty witnessed another week of directionless movement due to lack of strong cues. On the higher end, the index continued to find resistance at the rising trendline on the weekly chart. Daily RSI remained flat after it had come down from the over-bought zone. On the lower end, Nifty may drift down towards 10880, again sustained trade below 10880 may trigger further correction towards 10550. On the higher end, a decisive move beyond 11400 may induce much stronger rally.<\/p>\n

Derivative<\/strong>

\n\tMarkets closed the week with a positive bias with Midcap stocks leading from the front. Nifty outperformed the Bank Nifty index by ~0.75% with both the indices closing the week ~1.25% and ~0.5% higher, respectively. Both the index futures added fresh long positions during the week as the indices remained resilient, witnessing buying at the lower levels. FIIs index future long\/short ratio hovered between 1.4x to 2x level during the week as FIIs gradually reduced their short positions and added fresh long positions in the index futures. India Vix index closed the week at 22.6, down ~6.6%. On the options front (August 13, 2020 expiry), Nifty and Bank Nifty out of the money put options added writing positions as the underlying price trended higher.<\/p>\n<\/div>\n

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