Marvelous Recovery As Interest Rates Cut By RBI
Chirag Gothi / 29 Sep 2015
In today's trading session the Nifty gave a gap down opening followed by weak global cues and hit a day's low at 7691.20 levels in early trading hours after given the cut in interest rate news by the RBI governer
In today's trading session the Nifty gave a gap down opening followed by weak global cues and hit a day's low at 7691.20 levels in early trading hours after given the cut in interest rate news by the RBI governor. The Nifty started to climb higher and higher and hit a day high at 7926.55 levels, but this paused in the last trading hour and the Nifty drifted from higher levels,finally settling with 47.60 points positive and closed at 7843.30 level.
The market breadth for the Nifty has has remained negative in today’s trading session. The advance decline ratio ended on the negative side. 22 stocks closed with green mark whereas, 28 stocks closed in red.
Top Nifty Gainers: MARUTI was the top gainer gaining 3.24% followed by HDFC, COALINDIA, INDUSINDBK and BANKOFBARODA
Top 5 Nifty Losers: VEDL was the top loser with a loss of 5.65% followed by BOSCHLTD, BPCL, HINDALCO and TATASTEEL
In today’s trading session CNX REALTY sector was top gainer gain with 1.98% whereas CNX METAL sector was the top loser, with loss of 2.26%.
The Asian markets quoted in mixed numbers where China's Shanghai Composite was down by 2.11%, Hong Kong's Hang-Seng lost by 3.06% , while Japan's Nikkei declined by 4.22%.European market traded in red and London's FTSE 100 index was down by 0.41%. The German DAX up by 0.38% and the French CAC was up by 0.34%.
Derivative Analysis
The Nifty October futures open interest has increased by 5.47%. Bank Nifty October futures open interest has increased by 20.59%. Nifty market closed at 7,843.30 levels & Bank Nifty closed at 17,281.20 levels.The Nifty October future closed at a premium of 50.60 point.
The November series closed at a premium of 50.65 points.
The Implied Volatility of at the money options has decline by 0.44%.
Nifty PCR-OI has sustain at 1.09 levels.
Interpretation: On the basis of above data,its observed that 7500 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.
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