Nifty Gains, Markets Hopeful
Chirag Gothi / 26 Nov 2015
In today's trading session the Indian Benchmark Index Nifty opened on a flat note and made a day low in the early trading hours at 7832 levels. However, as the day progressed the Nifty index started to pick up strength and moved higher. In the last hour of trading we have seen value buying in the heavyweight’s i.e TATAMOTORS, RELIANCE, ITC and M&M. At the end of day the Nifty closed with a gain of 52.2 points at 7883.80 levels.
Post Market Commentary:
In today's trading session the Indian Benchmark Index Nifty opened on a flat note and made a day low in the early trading hours at 7832 levels. However, as the day progressed the Nifty index started to pick up strength and moved higher. In the last hour of trading we have seen value buying in the heavyweight’s i.e TATAMOTORS, RELIANCE, ITC and M&M. At the end of day the Nifty closed with a gain of 52.2 points at 7883.80 levels.
The breadth for the Nifty index has turn from negative to positive in today’s trading session, as the advance decline ratio ended on the posaitive side. Out of 50 stocks 27 stocks closed in the green, whereas 22 stocks closed in the red.
Top 5 Nifty Gainers: TATAMOTORS was the top gainer gaining with 5.49% followed by SUNPHARMA, IDEA, GAIL and RELIANCE.
Top 5 Nifty Losers: DRREDDY was the top loser with a loss of 3.63% followed by TECHM, TCS, ADANIPORTS and BAJAJ-AUTO.
In today’s trading session Reality sector was top gainer gain with 2.10% where as Pharma sector was top loser lose with 0.95%.
The Asian markets quoted in mixed; China's Shanghai Composite was down by 0.34% today, Hong Kong's Hang-Seng was down by 0.04% , while Japan's Nikkei was up by 0.49% today.
The European indices traded in green, London’s FTSE 100 index was uo by 0.39% and the German DAX up by 1.07% and France CAC up by 0.63%.
Derivative Analysis
The Nifty November futures open interest has decline by 2.54%. Bank Nifty November futures open interest has decreased by 24.98%. Nifty market closed at 7,883.80 levels & Bank Nifty closed at 17,036.55 levels.
The Nifty December future closed at a premium of 53.2 point.
The January series closed at a premium of 90.2 points.
The Implied Volatility of at the money options has increases by 2.72%.
Nifty PCR-OI has sustain at 0.94 levels.
Interpretation: On the basis of above data,its observed that 7800 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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