Nifty Ends Below 8200
Chirag Gothi / 28 Oct 2015
After opening on a negative note, the benchmark indices continued to drift lower as selling pressure continued throughout the trading session. The Banking and Reality stocks were under severe selling pressure and this resulted in the breach of important psychological level for Nifty of 8200. However, in the closing half an hour of the trading session IT and Pharma stocks provided much needed support and nifty ended the session with loss of 61 points at 8171.
Post Market Commentary:
After opening on a negative note, the benchmark indices continued to drift lower as selling pressure continued throughout the trading session. The Banking and Reality stocks were under severe selling pressure and this resulted in the breach of important psychological level for Nifty of 8200. However, in the closing half an hour of the trading session IT and Pharma stocks provided much needed support and nifty ended the session with loss of 61 points at 8171.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 19 stocks closed in the green, whereas 31 stocks closed in the red.
Top 5 Nifty Gainers: CIPLA was the top gainer gaining with 2.52% followed by KOTAKBANK, TECHM, AMBUJACEM and ONGC.
Top 5 Nifty Losers: AXISBANK was the top loser with a loss of 7.20% followed by ICICIBANK, ADANIPORTS, INDUSINDBK and YESBANK.
In today’s trading session CNX IT sector was the top gainer gain with 0.52% whereas CNX PSU BANK was top loser lose with 2.50%.
The Asian markets quoted in mixed; China's Shanghai Composite was down by 1.75% today, HongKong's Hang-Seng was down by 0.81% , while Japan's Nikkei was up by 0.67%.
The European indices traded in green, London’s FTSE 100 index was up by 0.33% and the German DAX up by 0.70% and the French CAC jumped by 0.59%.
Derivative Analysis
The Nifty October futures open interest has increased by 2.38%. Bank Nifty October futures open interest has decline by 7.59%. Nifty market closed at 8,171.20 levels & Bank Nifty closed at 17,373.15 levels.
The Nifty October future closed at a premium of 12.75 point.
The November series closed at a premium of 53.2 points.
The Implied Volatility of at the money options has increased by 3.05%.
Nifty PCR-OI has sustain at 1.31 levels.
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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