Nifty Stagnates At 7800 Levels
Chirag Gothi / 24 Nov 2015
In today's trading session the Indian equity Benchmark Index Nifty opened in the negative territory and moved lower registering a day low of 7812.65 in the early hour of the trading session. However, as the day progressed the Nifty index erased all losses and started to trade in the positive territory. In the last trading hour there was minor selling in the Nifty Index and finally the Nifty index closed at 7831 levels with a minor loss of 17.65 points.
Post Market Commentary:
In today's trading session the Indian equity Benchmark Index Nifty opened in the negative territory and moved lower registering a day low of 7812.65 in the early hour of the trading session. However, as the day progressed the Nifty index erased all losses and started to trade in the positive territory. In the last trading hour there was minor selling in the Nifty Index and finally the Nifty index closed at 7831 levels with a minor loss of 17.65 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 18 stocks closed in the green, whereas 32 stocks closed in the red.
Top 5 Nifty Gainers: HINDUNILVR was the top gainer gaining with 4.96% followed by HDFC, RELIANCE, BHARTIARTL and GRASIM.
Top 5 Nifty Losers: BOSCHLTD was the top loser with a loss of 3.63% followed by ADANIPORTS, MARUTI, GAIL and LT.
In today’s trading session the Reality sector was the top gainer gaining with 1.06% whereas the Media sector was the top loser losing with 0.95%.
The Asian markets quoted in mixed; China's Shanghai Composite was up by 0.15% today, Hong Kong's Hang-Seng was down by 0.35% , while Japan's Nikkei was up by 0.23% today.
The European indices also traded in red, London’s FTSE 100 index was down by 0.73%, the German DAX was down by 0.69% and the French CAC was down by 1.22%.
Derivative Analysis
The Nifty November futures open interest has increases by 0.80%. Bank Nifty November futures open interest has decreased by 1.4%. Nifty market closed at 7,831.60 levels & Bank Nifty closed at 16,988.65 levels.
The Nifty November future closed at a premium of 1.1 point.
The December series closed at a premium of 35.65 points.
The Implied Volatility of at the money options has decline by 4.86%.
Nifty PCR-OI has sustain at 0.77 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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