Nifty closes In The Red After Positive Start, CNX Metals Top Performer
Chirag Gothi / 21 Oct 2015
Nifty gave a positive start and thereafter showed some strength in the morning session, however, it witnessed a setback in the mid-afternoon session as traders and investors preferred to book profit on the back of sharp decline in the Chinese market. Late recovery was seen as Index heavyweight Bajaj Auto posted better than expected results and this lifted the sentiments of the market. Finally the Nifty index closes with loss of 10 points at 8252 levels.
Post Market Commentary:
Nifty gave a positive start and thereafter showed some strength in the morning session, however, it witnessed a setback in the mid-afternoon session as traders and investors preferred to book profit on the back of sharp decline in the Chinese market. Late recovery was seen as Index heavyweight Bajaj Auto posted better than expected results and this lifted the sentiments of the market. Finally the Nifty index closes with loss of 10 points at 8252 levels.
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 22 stocks closed in the green, whereas 27 stocks closed in the red.
Top 5 Nifty Gainers: VEDL was the top gainer gaining with 4.20% followed by Bajaj Auto, Bharti Airtel, NTPC and Tata Steel.
Top 5 Nifty Losers: Dr.Reddy was the top loser with a loss of 3.45% followed by Asian Paint, SBI, BHEL and PNB.
In today’s trading session, CNX Metal sector was the top performer closing with gain with 1.28% and CNX PSU Bank sector was top looser lose with 1.83%.
The Asian markets quoted in mixed; China's Shanghai Composite was down by 3.59% today, Hong Kong's Hang-Seng was down by 0.38%, while Japan's Nikkei was up by 1.87%.
European indices traded in green mark, London’s FTSE 100 index was up by 0.29% and the German DAX up by 0.38% and Frances CAC was up by 0.34%.
Derivative Analysis:
The Nifty September futures open interest has increased by 1.22%. Bank Nifty September futures open interest has increased by 0.71%. Nifty market closed at 8251.70 levels & Bank Nifty marked closed at 17703.00 levels.
The Nifty October future closed at a premium of 9.3 point.
The November series closed at a premium of 47.2 points.
The Implied Volatility of at the money options has decline by 2.19%.
Nifty PCR-OI has sustain at 1.28evels.
Interpretation: On the basis of above data,its observed that 8100 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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