Nifty Gains As Reliance Ups The Ante
Chirag Gothi / 19 Oct 2015
The Indian benchmark indices opened in green riding on positive global cues and better than expected result from the Index heavyweight Reliance Industries. In the mid afternoon session market firmed up further led by gains in the Oil & gas and pharma stocks. At the end of the trading session the nifty index managed to close at 8275 levels with a gain of 37 points.
Post Market Commentary:
The Indian benchmark indices opened in green riding on positive global cues and better than expected result from the Index heavyweight Reliance Industries. In the mid afternoon session market firmed up further led by gains in the Oil & gas and pharma stocks. At the end of the trading session the nifty index managed to close at 8275 levels with a gain of 37 points.
The breadth for the Nifty index has turned from positive to negative in today’s trading session, as the advance decline ratio ended on the negative side. Out of 50 stocks 24 stocks closed in the green, whereas 26 stocks closed in the red.
Top Nifty Gainers: RELIANCE Industries was the top gainer gaining with 5.5% followed by BHARTIARTL, HCLTECH, HINDUNILVR and INFY.
Top 5 Nifty Losers: ONGC was the top loser with a loss of 2.31% followed by TATASTEEL, TATAMOTORS, ULTRACEMCO and ADANIPORTS.
In today’s trading session CNX Reality sector was the top gainer gain with 2.71% whereas CNX Metal was top loser lose with 0.81%.
The Asian markets quoted in mixed; China's Shanghai Composite was down by 0.11% today, Hong Kong's Hang-Seng was up by 0.04% , while Japan's Nikkei was down by 0.89%.
European indices also traded in mixed, London’s FTSE 100 index was down by 0.10% and the German DAX up by 0.77% and France's CAC was up by 0.32%.
Derivative Analysis
The Nifty October futures open interest has increased by 2.59%. Bank Nifty October futures open decreased has increases by 6.24%. Nifty market closed at 8,275.05 levels & Bank Nifty closed at 17,855.05 levels.
The Nifty October future closed at a discount of 0.9 point.
The November series closed at a premium of 25.45 points.
The Implied Volatility of at the money options has increases by 3.70%.
Nifty PCR-OI has sustain at 1.26 levels.
Interpretation: On the basis of above data,its observed that 8200 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.
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