Nifty Closes Near Day Low; 8100 Crucial Levels

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 FMCG and Infra stocks were under severe selling pressure and this dragged the Nifty to close near days low at 8111 levels with lose of 59.45 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 14 stocks closed in the green, whereas 36 stocks closed in the red. 

Top 5 Nifty Gainers: YESBANK was the top gainer gaining with 2.25% followed by DRREDDY, VEDL, LUPIN and ULTRACEMCO.

Top 5 Nifty Losers: BHEL was the top loser with a loss of 4.43% followed by BPCL, AXISBANK, COALINDIA and GAIL.
 
In today’s trading session all sectors closed in red and CNX PSE sector was the top loser and was down by 1.80%.  
 
The Asian markets quoted in mixed; China's Shanghai Composite was up by 0.38% today, Hong Kong's Hang-Seng was down by 0.60% , while Japan's Nikkei was up by 0.17%.

The  European indices traded in red, London’s FTSE 100 index was down by 0.82% and the German DAX was down by 0.04% while the French CAC slipped by 0.39%

Derivative Analysis:

The Nifty November futures open interest has increased by 35.70%. Bank Nifty October futures open interest has increased by 51.30%. Nifty market closed at 8,111.75 levels & Bank Nifty closed at 17,212.20 levels.

The Nifty November future closed at a premium of 26.35 point.
 
The December series closed at a premium of 72.3 points.

The Implied Volatility of at the money options has increased by 3.15%.  

Nifty PCR-OI has sustain at 1.05 levels.

Interpretation: On the basis of above data,its observed that 8100 may act as strong Support & 8500 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.