Benchmark Indices End Volatile Session With Marginal Gains
Chirag Gothi / 20 Nov 2015
In today's trading session the Indian benchmark index Nifty opened on a flat note and drifted lower hitting a day low of 7817.80 in the early trading hours but later it started to pick up strength and moved higher to touch the 7906.30 levels. However, the Nifty was not able to sustain at these levels and in the last trading hour we saw some profit booking in the Nifty index. Finally, the Nifty index closed at 7856.55 levels with a minor gain of 13.80 points.
Post Market Commentary
In today's trading session the Indian benchmark index Nifty opened on a flat note and drifted lower hitting a day low of 7817.80 in the early trading hours but later it started to pick up strength and moved higher to touch the 7906.30 levels. However, the Nifty was not able to sustain at these levels and in the last trading hour we saw some profit booking in the Nifty index. Finally, the Nifty index closed at 7856.55 levels with a minor gain of 13.80 points.
The breadth for the Nifty index has remained positive in today’s trading session, as the advance decline ratio ended on the positive side. Out of 50 stocks 32 stocks closed in the green, whereas 18 stocks closed in the red.
Top 5 Nifty Gainers: GAIL was the top gainer gaining with 9.59% followed by WIPRO, BANKOFBARODA, AMBUJACEM and DRREDDY.
Top 5 Nifty Losers: ITC was the top loser with a loss of 2.26% followed by SUNPHARMA, HINDALCO, HCLTECH and BOSCHLTD.
In today’s trading session the CPSE sector was the top gainer gaining with 1.29% whereas the FMCG sector was the top loser losing with 0.93%.
The Asian markets quoted in green; China's Shanghai Composite was up by 0.38% today, Hong Kong's Hang-Seng was up by 1.12% , while Japan's Nikkei was up by 0.10% today.
The European indices traded in mixed; London’s FTSE 100 index was up by 0.04%, the German DAX was down by 0.05% and the French CAC was also down by 0.46%.
Derivative Analysis
The Nifty November futures open interest has increases by 4.82%. Bank Nifty November futures open interest has increases by 0.37%. Nifty market closed at 7,856.55 levels & Bank Nifty closed at 17,055.60 levels.
The Nifty November future closed at a discount of 5.55 point.
The December series closed at a premium of 30.45 points.
The Implied Volatility of at the money options has decliine by 0.36%.
Nifty PCR-OI has sustain at 0.81 levels.
Interpretation: On the basis of above data,its observed that 7800 may act as strong Support & 8000 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.
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