Global Market Ensures Nifty Stays Low

Post Market Commentary
 
In today's trading session the Indian Benchmark Index Nifty gave a gap down opening  and traded below the 7800 levels. The fall may be attributed to the stimulus announced by the European Central Bank that failed to meet expectation. Mid session the Nifty picked up some strength and moved higher to touch the 7820 levels but in the last trading hour there was strong selling by FII so once again the Nifty drifted lower and finally closed at a near day-low with a  loss of 82.25 points at 7,782 levels.
 
The breadth for the Nifty index has remained 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 41 stocks closed in the red. 
 
Top 5 Nifty Gainers: SUNPHARMA was the top gainer gaining with 3.87% followed by CAIRN, TATASTEEL, COALINDIA and TATAMOTORS
 
Top 5 Nifty Losers: ZEEL was the top loser with a loss of 3.61% followed by BANKBARODA, M&M, IDEA and HDFC.
In today’s trading session the  Reality sector was the top gainer gaining  with 0.32% where as the FMCG sector was the top loser losing with 1.54%.  
 
The Asian markets quoted in red; China's Shanghai Composite was down by 1.69% today, Hong Kong's Hang-Seng was down by 0.81% , while Japan's Nikkei was down by 2.23% today.
 
The European indices also traded in red, London’s FTSE 100 index was down by 0.37%, the German DAX was  down by 0.5% and French was down by 0.56%.

Derivative Analysis

The Nifty November futures open interest has increases by 4.22%. Bank Nifty November futures open interest has increased by 12.64%. Nifty market closed at 7,781.90 levels & Bank Nifty closed at 16,897.30 levels.

The Nifty December future closed at a premium of 44.9 point.

The January series closed at a premium of 82.1 points.

The Implied Volatility of at the money options has increases by 0.18%.  

Nifty PCR-OI has sustain at 0.84 levels.








Interpretation: On the basis of above data,its observed that 7700 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.