Nifty Under Pressure Possibility Of Cut In Interest Rates By RBI
Chirag Gothi / 28 Sep 2015
Nifty traded choppy roads throughout in morning session and hit a day's high at 7892.80 levels, but in the last trading bout the Nifty slipped very rapidly because of a possibility of interest rate cut by RBI and hit the day's low at 7787.95 level,
Post Market Commentary
Nifty traded choppy roads throughout in morning session and hit a day's high at 7892.80 levels, but in the last trading bout the Nifty slipped very rapidly because of a possibility of interest rate cut by RBI and hit the day's low at 7787.95 level, finally Nifty given close near days low and settled with 72.80 points negative at 7795.70 level.
The market breadth for the Nifty has turned positive to negative in today’s trading session, the advance decline ratio ended on the negative side. 13 stocks closed with green mark whereas, 36 stocks closed in red.
Top Nifty Gainers: DR REDDY was the top gainer gain with 5.23% followed by IDEA, LUPIN, ADANIPORTS and POWERGRID.
Top 5 Nifty Losers: TATAMOTORS was the top loser with a loss of 6.18% followed by VEDL, COALINDIA, ULTRACEMCO and SUNPHARMA.
In today’s trading session CNX REALTY sector was top gainer gain with 1.21% whereas CNX AUTO sector was the top loser, with a loss of 1.77%.The Asian markets quoted in mixed figures; China's Shanghai Composite was up by 0.27%, Hong Kong's Hang-Seng gained by 0.43% , while Japan's Nikkei declined by 1.32%.
The European market traded in red, while London's FTSE 100 index was down by 1.27%, the German DAX declined by 1.21% and the French CAC was down by 1.78%.
Derivative Analysis
The Nifty October futures open interest has increased by 3.29%. Bank Nifty October futures open interest has increased by 6.67%. Nifty market closed at 7,795.70 levels & Bank Nifty closed at 17,100.30 levels.
The Nifty October future closed at a premium of 36.3 point.
The November series closed at a premium of 71.3 points.
The Implied Volatility of at the money options has increases by 3.75%.
Nifty PCR-OI has sustain at 1.07 levels.
Interpretation: On the basis of above data,its observed that 7800 may act as strong Support & 8100 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.
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