Nifty Starts And Ends The Day On A Positive Note
Chirag Gothi / 01 Dec 2015
In today's trading session the Indian Benchmark Index Nifty had opened in the green and tested the 7970 higher levels in the early trading hours at. Thereafter the Nifty had started to lose its strength and drifted lower testing the 7930 lower levels. As expected the RBI held its repo rate steady at 6.75%, maintaining status quo. The whole day the Nifty traded in the narrow range and finally the Nifty closed with minor gains of 19.65 points at 7954.90 levels.
Post Market Commentary
In today's trading session the Indian Benchmark Index Nifty had opened in the green and tested the 7970 higher levels in the early trading hours at. Thereafter the Nifty had started to lose its strength and drifted lower testing the 7930 lower levels. As expected the RBI held its repo rate steady at 6.75%, maintaining status quo. The whole day the Nifty traded in the narrow range and finally the Nifty closed with minor gains of 19.65 points at 7954.90 levels.
The breadth for the Nifty index has turned from negative to positive in today’s trading session, as the advance decline ratio ended on the positive side. Out of 50 stocks 29 stocks closed in the green, whereas 21 stocks closed in the red.
Top 5 Nifty Gainers: VEDL was the top gainer gaining with 5.17% followed by TATASTEEL, COALINDIA, BPCL and HINDALCO.
Top 5 Nifty Losers: BHARTIAIRTEL was the top loser with a loss of 3.16% followed by ADANIPORTS, AXISBANK, GAIL and MARUTI.
In today’s trading session, the Metal sector was the top gainer gaining with 3.17% whereas the Auto sector was the top loser losing with 0.74%.
The Asian markets quoted in Green; China's Shanghai Composite was up by 0.36% today, Hong Kong's Hang-Seng was up by 1.72% , while Japan's Nikkei was also up by 1.32% today.
The European indices traded in mixed, London’s FTSE 100 index was up by 0.44, the German DAX was down by 0.20% and French CAC was down by 0.30%.
Derivative Analysis
The Nifty November futures open interest has increases by 3.92%. Bank Nifty November futures open interest has increased by 9.07%. Nifty market closed at 7,954.90 levels & Bank Nifty closed at 17,398.55 levels.
The Nifty December future closed at a premium of 34.5 point.
The January series closed at a premium of 70.1 points.
The Implied Volatility of at the money options has decline by 4.83%.
Nifty PCR-OI has sustain at 1.01 levels.
Interpretation: On the basis of above data,its observed that 7900 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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