Nifty Closes With Marginal Losses
Chirag Gothi / 30 Nov 2015
In today's trading session, the Indian Benchmark Index Nifty opened in the red testing the 7930 levels in the early trading hours. Thereafter the Nifty started to move higher nearing the 7960 levels but during mid-noon there was a negative cue from the Asian and European markets due to which the Nifty traded in narrow range. In the last trading hour we have seen volatility in the Nifty Index. At the end of day the Nifty closed with a minor loss of 7.45 points at 7935.25 levels.
Post Market Commentary:
In today's trading session, the Indian Benchmark Index Nifty opened in the red testing the 7930 levels in the early trading hours. Thereafter the Nifty started to move higher nearing the 7960 levels but during mid-noon there was a negative cue from the Asian and European markets due to which the Nifty traded in narrow range. In the last trading hour we have seen volatility in the Nifty Index. At the end of day the Nifty closed with a minor loss of 7.45 points at 7935.25 levels.
The breadth for the Nifty index has turned from positive to negative in today’s trading session, as the advance decline ratio ended on the negative side. Out of 50 stocks 17 stocks closed in the green, whereas 32 stocks closed in the red.
Top 5 Nifty Gainers: POWERGRID was the top gainer gaining with 2.02% followed by INDUSINDBK, INFY, TATAPOWER and TATAMOTORS.
Top 5 Nifty Losers: ASIANPAINT was the top loser with a loss of 2.23% followed by BHARTIAIRTEL, VEDL, COALINDIA and NTPC.
In today’s trading session, the Reality sector was the top gainer gaining with 1.23% whereas the FMCG sector was the top loser losing with 0.77%.
The Asian markets quoted in mixed; China's Shanghai Composite was up by 0.27% today, Hong Kong's Hang-Seng was down by 0.33% , while Japan's Nikkei was down by 0.69% today.
The European indices traded in mixed, London’s FTSE 100 index was down by 0.33%, the German DAX was up by 0.51% and the French CAC was up by 0.14%.
Derivative Analysis:
The Nifty November futures open interest has increases by 7.88%. Bank Nifty November futures open interest has increased by 1.33%. Nifty market closed at 7,935.25 levels & Bank Nifty closed at 17,430.40 levels.
The Nifty December future closed at a premium of 45.75 point.
The January series closed at a premium of 84.9 points.
The Implied Volatility of at the money options has decline by 1.79%.
Nifty PCR-OI has sustain at 1.06 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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