Volatility To Rule The Market

Post Market Commentary

Nifty gave a positive start, afterwards it slipped lower and Nifty index slipped below the crucial psychological level of 7,878. During the last trading hour Nifty was very volatile and finally Nifty gave closed at 7789.30 levels with minor gain of 1.2 points.

Market breadth for the Nifty Index remained weak and the advance decline ratio ended on the negative side on today’s trading session. 21 stocks closed with green mark whereas, 29 stocks closed in red.

Top 5 Nifty Gainers: BPCL was top gainer gain with 1.75% followed by State Bank of India, Wipro, HDFC, and Infosys. 

Top 5 Nifty Losers: Cairn was top looser with loss of 3.73% followed by, BHEL, Tata Steel, Tata Motors, and VEDL. 

In today’s trading session CNX REALTY sector was top performer and gained 1.01% whereas CNX METAL sector was top loser lose with 1.52%.

The Asian markets were quoting mixed; China’s Shanghai Composite climbed by 0.07%, Hong Kong’s Hang-Seng slipped by 0.19% , while Japan’s Nikkei was down by 0.19%.

In Europe, FTSE open up by 32 points, DAX open 76 points higher, and CAC open 38 points higher.

Derivative Analysis

The Nifty September futures open interest has increased by 2.13%. Bank Nifty September futures open interest has increases by 5.49%. Nifty market closed at 7,789.30 levels & Bank Nifty marked closed at 16,612.60 levels.

The Nifty September future closed at a discount of 4.3 point.

The October series closed at a premium of 32 points.

The Implied Volatility of at the money options has increased by 0.92%.  

Nifty PCR-OI has sustained at 1.04 levels.









Interpretation: On the basis of above data, its observed that 7700 may act as strong Support & 8000 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.