Nifty Manages To Sustain 8200 Level
Chirag Gothi / 27 Oct 2015
The Indian Benchmark Indices opened negative on the back of weak and subdued global cues. The selling pressure intensified in the mid afternoon session as index heavy weight and Pharmaceuticals major Lupin posted disappointing quarterly earnings. However, in the last half an hour buying in Auto stocks helped market to recover from the lower levels and the Nifty index managed to close with marginal loss of 27 points at 8232.
Post Market Commentary:
The Indian Benchmark Indices opened negative on the back of weak and subdued global cues. The selling pressure intensified in the mid afternoon session as index heavy weight and Pharmaceuticals major Lupin posted disappointing quarterly earnings. However, in the last half an hour buying in Auto stocks helped market to recover from the lower levels and the Nifty index managed to close with marginal loss of 27 points at 8232.
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 5 Nifty Gainers: MARUTI was the top gainer gaining with 3.01% followed by SUNPHARMA, ULTRACEMCO, BPCL and ASIANPAINT.
Top 5 Nifty Losers: LUPIN was the top loser with a loss of 5.44% followed by ONGC, GAIL, HDFC and BANKBARODA.
In today’s trading session CNX Media sector was the top gainer gain with 0.24% whereas CNX Infra was top loser lose with 0.83%.
The Asian markets quoted in mixed; China's Shanghai Composite was up by 0.14% today, Hong Kong's Hang-Seng was up by 0.11% , while Japan's Nikkei was sliped by 0.92%.
The European indices traded in red, London’s FTSE 100 index was down by 0.35% and the German DAX down by 0.04% and French CAC slipped by 0.07%.
Derivative Analysis:
The Nifty October futures open interest has increased by 3.94%. Bank Nifty October futures open interest has increased by 0.79%. Nifty market closed at 8,232.90 levels & Bank Nifty closed at 17,806.30 levels.
The Nifty October future closed at a premium of 7.1 point.
The November series closed at a premium of 43.6 points.
The Implied Volatility of at the money options has decline by 4.03%.
The Nifty PCR-OI has sustained at 1.35 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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