Nifty continues disappointing spree
Chirag Gothi / 03 Dec 2015
In today's trading session the Indian Benchmark Index Nifty opened with the red mark and started to lose its strength drifting lower to test the 7884 levels. This was largely due to last night statement by Fed chair when she said she was "looking forward" to a rate hike that will be seen as a testament to the economy's recovery from recession. The Fed's next policy meeting is to be held on December 15-16. During the mid trading session the Nifty started to pick up strength but in the last trading hour there was a sharp fall in the numbers and finally Nifty closed with a loss of 67.20 points at 7,864.15 levels.
Post Market Commentary
In today's trading session the Indian Benchmark Index Nifty opened with the red mark and started to lose its strength drifting lower to test the 7884 levels. This was largely due to last night statement by Fed chair when she said she was "looking forward" to a rate hike that will be seen as a testament to the economy's recovery from recession. The Fed's next policy meeting is to be held on December 15-16. During the mid trading session the Nifty started to pick up strength but in the last trading hour there was a sharp fall in the numbers and finally Nifty closed with a loss of 67.20 points at 7,864.15 levels.
The breadth for the Nifty index has remain negative in today’s trading session, as the advance decline ratio ended on the negative side. Out of 50 stocks only 8 stocks closed in the green, whereas 42 stocks closed in the red.
Top 5 Nifty Gainers: AXISBANK was the top gainer gaining with 0.72% followed by TECHM, NTPC, INDUSINDBK and MARUTI.
Top 5 Nifty Losers: BHEL was the top loser with a loss of 2.89% followed by ONGC, LUPIN, PNB and VEDL.
In today’s trading session Reality sector was top gainer gain with 0.32% where as FMCG sector was top loser lose with 1.54%.
The Asian markets quoted in mixed; China's Shanghai Composite was up by 1.35% today, Hong Kong's Hang-Seng was down by 0.28% , while Japan's Nikkei was up by 0.01% today.
The European indices traded in green, London’s FTSE 100 index was up by 0.32% and the German DAX up by 1.04% and France CAC also up by 1.31%.
Derivative Analysis
The Nifty November futures open interest has increases by 3.67%. Bank Nifty November futures open interest has declined by 7.20%. Nifty market closed at 7,864.15 levels & Bank Nifty closed at 17,110.10 levels.
The Nifty December future closed at a premium of 26.8 point.
The January series closed at a premium of 64.75 points.
The Implied Volatility of at the money options has increases by 3.66%.
Nifty PCR-OI has sustain at 0.86 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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