Nifty Looks Upward As Markets Close In Green

Post Market Commentary: 

After opening the day on a positive note, the Indian Indices continue to trade in green and register a high of 8190.55 led by Auto and Banking Stocks. However, post that there was no action in the benchmark indices, but there were stock specific movement and the Nifty index managed to close with handsome gains 72 points at 8179.5.

The breadth for the Nifty index has turned from negative to positive in today’s trading session, as the advance decline ratio ended on the positive side. Out of 50 stocks 36 stocks closed in the green, whereas 13 stocks closed in the red. 

Top Nifty Gainers: ZEEL was the top gainer gaining with 7.95% followed by TATAMOTORS, BPCL, BANKBARODA and BHEL.

Top 5 Nifty Losers: CIPLA was the top loser with a loss of 1.15% followed by M&M, WIPRO, TCS and HINDUNILVR.

In today’s trading session CNX Media sector was the top gainer gain with 5.20% whereas CNX IT was top loser lose with 0.22%.  

The Asian markets quoted in green; China's Shanghai Composite was up by 2.27% today, Hong Kong's Hang-Seng jump by 1.96% , while Japan's Nikkei was up by 1.14%.

European indices traded in green, London’s FTSE 100 index was up by 1.00% and the German DAX up by 1.52% and Frans CAC was down by 1.38%.

Derivative Analysis:

The Nifty October futures open interest has increased by 6.45%. Bank Nifty October futures open decreased has increases by 9.58%. Nifty market closed at 8,179.50 levels & Bank Nifty closed at 17,686.10 levels.

The Nifty October future closed at a premium of 10.5 point.
 
The November series closed at a premium of 50.5 points.

The Implied Volatility of at the money options has decline by 3.10%.  

Nifty PCR-OI has sustain at 1.25 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.