Markets Volatile As Nifty Nears Two Month High

Post Market Commentary:
 
The Indian Markets opened on a flattish note today following muted cues from the Asian Peers. However, as the day progressed markets showed a volatile trade swinging between gains and losses and finally settled at 8261 with modest loss of 13 points.
 
The breadth for the Nifty index has remained negative in today’s trading session, as the advance decline ratio ended on the negative side. Out of 50 stocks 17 stocks closed in the green, whereas 33 stocks closed in the red. 
 
Top Nifty Gainers: BOSCHLTD was the top gainer gaining with 2.12% followed by TATAPOWER, POWERGRID, TCS and INFY.
 
Top 5 Nifty Losers: VEDL was the top loser with a loss of 6.43% followed by CAIRN, TATASTEEL, HINDALCO and M&M.
 
In today’s trading session CNX IT sector was the top gainer gaining 0.85% whereas CNX Metal was top loser losing 2.15%.  
 
The Asian markets quoted in mixed; China's Shanghai Composite was up by 1.10% today, Hong Kong's Hang-Seng was down by 0.38% , while Japan's Nikkei was up by 0.42%.
 
European indices traded in red mark, London’s FTSE 100 index was down by 0.42% and the German DAX down by 0.57% and France CAC was down by 0.83%.
 

Derivative Analysis:
 
The Nifty October futures open interest has increased by 1.68%. Bank Nifty October futures open decreased has decline by 0.03%. The Nifty market closed at 8,261.65 levels & the Bank Nifty closed at 17,830.25 levels.
The Nifty October future closed at a discount of 7.15 point.
 
The November series closed at a premium of 31.15 points.
 
The Implied Volatility of the money options has increases by 0.69%.  
 
Nifty PCR-OI has sustained at 1.27 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.