Fed Uncertanity; Nifty Volatile

Post Market Commentary

Nifty gave gap up start , afterwards showed some strength and touched day’s high in first trading session however, Market traded in the tight range till mid afternoon trade but, in second session market steep from higher levels and; finally Nifty given close near days low at 7981.90 levels with gain of 82.75 points.

The market breadth for the Nifty remained strong the advance decline ratio ended on the positive side on today’s trading session. 29 stock has been closed with green mark whereas, 21 stock closed in red.

Top 5 Nifty Gainers: Axis Bank was top gainer gain with 5.13% followed by ONGC, NMDC, Kotak Bank,and Bank OF Baroda. 

Top 5 Nifty Losers: Bajaj Auto was top looser with loss of 3.26% followed by,Hindalco, Cipla, Tata Motors,and ITC

In today’s trading session BANK NIFTY sector was the top performer, gaining with 2.62% and CNX FMCG sector was the top loser losing with 1.16%.

The Asian markets were quoting with mixed; China's Shanghai Composite was up by 0.38%, Hong Kong's Hang-Seng gain by 0.30% , while Japan's Nikkei was down by 1.96%.

The European market traded in red mark as uncertainty over when the Fed would eventually raise interest rates. 

Derivative Analysis

The Nifty September futures open interest has increased by 10.55%. Bank Nifty September futures open interest has increased by 16.51%. Nifty market closed at 7,981.90 levels & Bank Nifty closed at 17,409.15 levels.

The Nifty September future closed at a discount of 16.9 point.
 
The October series closed at a premium of 21.6 points.

The Implied Volatility of at the money options has decline by 16.84%.  

Nifty PCR-OI has sustain at 1.11 levels.

Interpretation: On the basis of above data,its observed that 7900 may act as strong Support & 8200 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.