Bulls Rejoice Nifty Shuts Near 8200

Post Market Commentary

After taking a breather in yesterday’s trading session, the Benchmark indices rallied on Friday, recovering all their previous session losses and reclaiming their key psychological level of 8200 on the Nifty index on Intraday basis.
 
The breadth for the Nifty remained in negative in today’s trading session, as the advance decline ratio ended on the negative side. Out of 50 stocks 23 stocks closed in green  whereas  27 stocks closed in the red.
 
Top Nifty Gainers: VEDL was top gainer gain with 12.65% followed by TATASTEEL, TATAMOTORS, INFY and ICICIBANK
 
Top 5 Nifty Losers: COALINDIA was top looser with loss of 2.99% followed by ASIANPAINT, BANKBARODA, MARUTI and SUNPHARMA.
 
In today’s trading session CNX Metal sector was top gainer gain with 2.01% whereas CNX PSU Bank was top loser lose with 0.44%. 
 
The Asian markets quoted in green; China's Shanghai Composite was up by 1.26% today, Hong Kong's Hang-Seng up by 0.46% , while Japan's Nikkei was up by 1.61%.
 
European indices are trading with positive bias, London’s FTSE 100 index is up by 1.06% and the German DAX up by 1.19% 

Derivative Analysis

The Nifty October futures open interest has increased by 0.22%. Bank Nifty October futures open decreased has decline by 3.75%. Nifty market closed at 8,189.70 levels & Bank Nifty closed at 17,590.25 levels.

The Nifty October future closed at a premium of 5.3 point.
 
The November series closed at a premium of 44.15 points.

The Implied Volatility of at the money options has decline by 1.73%.  

Nifty PCR-OI has sustain at 1.25 levels.

Interpretation: On the basis of above data,its observed that 8000 may act as strong Support & 8300 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.