Nifty Trades Below 7800 Level
Chirag Gothi / 13 Nov 2015
The Nifty index gave a gap down opening in the morning's trading session, following global trends. During the trading session FIIs were in selling mood because of a potential US interest rate hike next month. The Nifty index traded in narrow range i.e 7775-7730 levels all day. Finally, the Nifty closed near at 7762.25 levels with lose of 62.75 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: Coal India was the top gainer gaining with 2.73% followed by PNB, KOTAKBANK, BPCL and BHARTIARTL.
Top 5 Nifty Losers: CAIRN was the top loser with a loss of 5.46% followed by VEDL, CIPLA, ZEEL and HINDALCO.
In today’s trading session Metal sector was top gainer gain with 0.29% where as Media sector was top loser lose with 2.80%.
The Asian markets quoted in red; China's Shanghai Composite was down by 1.43% today, Hong Kong's Hang-Seng was down by 2.20% , while Japan's Nikkei was up by 0.51% today.
The European indices traded in red, London’s FTSE 100 index was down by 0.59% and the German DAX down by 0.10% and French CAC down by 0.42%.
Derivative Analysis
The Nifty November futures open interest has increases by 6.85%. Bank Nifty November futures open interest has increases by 4.47%. Nifty market closed at 7,762.25 levels & Bank Nifty closed at 16,932.85 levels.
The Nifty November future closed at a premium of 7.75 point.
The December series closed at a premium of 54.35points.
The Implied Volatility of at the money options has increased by 4.42%.
Nifty PCR-OI has sustain at 0.70 levels.
Interpretation: On the basis of above data,its observed that 7700 may act as strong Support & 8200 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.
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