Nifty Follows The Global Rally

Post Market Commentary

In first trading session Nifty opened on a positive mark and traded in a range bound hitting a day's low at 7853 levels. Because of good macro economic data and back of positive global cues we have seen buying activities by investors. The market extended its gain in the early afternoon session as European market which opened on positive side. Traders remained cautious as US Fed may raised interest rate. Finally, Nifty settled with 70.5 points positive movement at 7899.15 levels. 

The market breadth for the Nifty remained strong the advance decline ratio ended on the positive side on today’s trading session. 36 stock has been closed with green mark whereas, 14 stock closed in red.

Top 5 Nifty Gainers: YESBANK was top gainer gain with 4.12% followed by AMBUJACEM, AXISBANK, SUNPHARMA, and BHARTIARTL. 

Top 5 Nifty Losers: BPCL was top looser with loss of 1.75% followed by,NMDC, BOSCHLTD, ASIANPAINT, and CAIRN. 

In today’s trading session BANK NIFTY sector was the top performer, gaining with 1.35% and CNX REALTY sector was the top loser losing with 0.27%.

The Asian markets were quoting with green; China's Shanghai Composite was up by 4.89%, Hong Kong's Hang-Seng gain by 2.38% , while Japan's Nikkei was up by 0.81%.

The European market traded in green mark. 

Derivative Analysis

The Nifty September futures open interest has increased by 6%. Bank Nifty September futures open interest has decline by 0.39%. Nifty market closed at 7,899.15 levels & Bank Nifty marked closed at 16,964.85 levels.

The Nifty September future closed at a discount of 1.5 point.
 
The October series closed at a premium of 31.85 points.

The Implied Volatility of at the money options has decline by 7.34%.  

Nifty PCR-OI has sustain at 1.02 levels.

Interpretation: On the basis of above data,its observed that 7800 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.