Nifty Slides, Gives A Negative Close

Post Market Commentary:
 
After opening the day on a flattish note, the Indian market consolidated in a narrow range for the first hour of trade. However, as the day progressed it surged up and went to touch an intraday high of 8146. But the bulls failed to sustain at higher levels and saw a drastic sell-off which resulted in nifty sliding below its important mark of 8100.
 
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 16 stocks closed in the green, whereas 34 stocks closed in the red. 
 
Top 5 Nifty Gainers: NTPC was the top gainer gaining with 3.67% followed by KOTAKBANK, ICICIBANK, YESBANK and DRREDDY.
 
Top 5 Nifty Losers: ITC was the top loser with a loss of 4.47% followed by LNT, VEDL, M&M and BOSCHLTD.
 
In today’s trading session Bank Nifty was top gainer gain with 0.83% where as CNX FMCG sector was the top loser losing with 2.45%.  
 
The Asian markets quoted in mixed; China's Shanghai Composite was down by 0.13% today, Hong Kong's Hang-Seng was down by 0.79% , while Japan's Nikkei was up by 0.77%.
 
The  European indices traded in mixed, London’s FTSE 100 index was down by 0.09% and the German DAX was up by 0.08% and the French CAC was up by 0.07%.


Derivative Analysis:

The Nifty November futures open interest has increased by 10.98%. Bank Nifty November futures open interest has decline by 1.87%. Nifty market closed at 8,065.80 levels & Bank Nifty closed at 17,354.50 levels.

The Nifty November future closed at a premium of 18.2 point.
 
The December series closed at a premium of 60.3 points.

The Implied Volatility of at the money options has increased by 1.69%.  

Nifty PCR-OI has sustain at 0.94 levels.

Interpretation: On the basis of above data,its observed that 8000 may act as strong Support & 8400 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.