"Nifty Extends Slide To Third Straight Day, HUL Disappoints".
Chirag Gothi / 14 Oct 2015
Nifty started the session on a negative note and it showed some signs of recovery in the early part of the day and it hit a high of 8139, however, it was not able to sustain at higher levels as corporate India continues to report muted earning. Hindustan Unilever and Zee reported disappoint set of numbers and this triggered fresh sell-off in the market and Nifty closed with loss of 24 points at 8107.
Post Market Commentary
Nifty started the session on a negative note and it showed some signs of recovery in the early part of the day and it hit a high of 8139, however, it was not able to sustain at higher levels as corporate India continues to report muted earning. Hindustan Unilever and Zee reported disappoint set of numbers and this triggered fresh sell-off in the market and Nifty closed with loss of 24 points at 8107.
The market breadth for the Nifty has turned from Neutral to negative in today’s trading session, the advance decline ratio ended on the negativeside. 22 stocks closed with the green mark whereas, 27 stocks closed in red.
Top Nifty Gainers: HINDALCO was the top gainer gain with 2.84% followed by ACC, LUPIN, RELIANCE and HDFC.
Top 5 Nifty Losers: TCS was the top loser with loss of 4.53% followed by CAIRN, ZEEL, HINDUNILVR and TECHM.
In today’s trading session CNX Pharma sector was the top gainer gain with 0.35% whereas CNX Media sector was top loser, loses of 2.54%.
The Asian markets quoted in red; China's Shanghai Composite was down by 0.95%, Hong Kong's Hang-Seng declined by 0.72% , while Japan's Nikkei slipped by 1.92%.
European market was also trading in red marked,London's FTSE 100 index was down by 0.76%, the German DAX up by 1.01% and the French CAC was up by 0.69%.
Derivative Analysis
The Nifty October futures open interest has increased by 1.23%. Bank Nifty October futures open interest has increased by 2.84%. Nifty market closed at 8107.90 levels & Bank Nifty closed at 17,543.25 levels.
The Nifty October future closed at a premium of 12.6 point.
The November series closed at a premium of 54.1 points.
The Implied Volatility of at the money options has decline by 1.63%.
Nifty PCR-OI has sustained at 1.29 levels
Interpretation: On the basis of above data, its observed that 8100 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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