Nifty Move Towards 8100

Post Market Commentary

After given gap down opening Nifty made days low at 7908.35 levels and then cautiously start, to trade higher level, however some value buying help the index to move higher. Thereafter in trading session after lunch Nifty made days high at 7987.90 levels and Finally, Nifty settled with 4.80 points negative at 7977.10 level.

Top 5 Nifty Gainers: HINDALCO was top gainer gain with 3.16% followed by MARUTI, POWERGRID, AXISBANK and GAIL. 

Top 5 Nifty Losers: RELIANCE was top looser with loss of 1.97% followed by,BOSCHLTD, DRREDDY, GRASIM, and ASIANPAINT.

In today’s trading session CNX PSU BANK sector was the top performer, gaining with 1.71% and CNX FMCG sector was the top loser losing with 0.74%.

The Asian markets were quoting mixed; China's Shanghai Composite was up by 1.89%, Hong Kong's Hang-Seng down by 0.80% , while Japan's Nikkei was closed today.

The European market traded in green mark except Germany’s DAX because of weak data of German Producer Price Index. It recorded -1.7% for the month of August 2015 compared to -1.3% for the same month last year.

Derivative Analysis

The Nifty September futures open interest has decline by 3.76%. Bank Nifty September futures open interest has increased by 8.27%. Nifty market closed at 7,977.10 levels & Bank Nifty closed at 17,542.90 levels.

The Nifty September future closed at a premium of 8.55 point.
 
The October series closed at a premium of 47.9 points.

The Implied Volatility of at the money options has decline by 0.62%.  

Nifty PCR-OI has sustain at 1.14 levels.

Interpretation: On the basis of above data,its observed that 7900 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.