All eyes on US Job Reports as Nifty continues tightrope walk
Chirag Gothi / 02 Dec 2015
In today's trading session the Indian Benchmark Index Nifty opened with the green mark and started to lose its strength gradually drifting lower to test the 7912 levels. Investors have now turned their focus on the US jobs report which will be published on Friday; it will reveal the key factor decision of the US Federal Reserve which the US will adopt in its December 15-16 policy meeting. The Nifty traded in the narrow range all day and finally closed with minor loss of 23.55 points at the 7931.35 levels.
Post Market Commentary:
In today's trading session the Indian Benchmark Index Nifty opened with the green mark and started to lose its strength gradually drifting lower to test the 7912 levels. Investors have now turned their focus on the US jobs report which will be published on Friday; it will reveal the key factor decision of the US Federal Reserve which the US will adopt in its December 15-16 policy meeting. The Nifty traded in the narrow range all day and finally closed with minor loss of 23.55 points at the 7931.35 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: LUPIN was the top gainer gaining with 3.25% followed by TATASTEEL, CIPLA, MARUTI and RELIANCE.
Top 5 Nifty Losers: PNB was the top loser with a loss of 3.09% followed by SBIN, BANKBARODA, HCLTECH and INFY.
In today’s trading session, the Pharma sector was the top gainer gaining with 0.99% whereas the PSU Bank sector was the top loser with a loss of 2.02%.
The Asian markets quoted in mixed; China's Shanghai Composite was up by 2.28% today, Hong Kong's Hang-Seng was up by 0.44% , while Japan's Nikkei was down by 0.37% today.
The European indices traded in green, London’s FTSE 100 index was up by 0.42% and the German DAX was up by 0.09%. The French CAC was also up by 0.07%.
Derivative Analysis
The Nifty November futures open interest has increases by 1.11%. Bank Nifty November futures open interest has declined by 1.23%. Nifty market closed at 7,931.35 levels & Bank Nifty closed at 17,218.50 levels.
The Nifty December future closed at a premium of 27.65 point.
The January series closed at a premium of 61.6 points.
The Implied Volatility of at the money options has decline by 0.94%.
Nifty PCR-OI has sustain at 0.95 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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