Nifty closes with minor losses
Chirag Gothi / 07 Dec 2015
In today's trading session, the Indian Benchmark Index Nifty opened with the green mark and made a day high at 7825 levels in the early trading hours. Subsequently it drifted lower testing the 7780 levels, wherein the Nifty traded in narrow range.
Post Market Commentary
In today's trading session, the Indian Benchmark Index Nifty opened with the green mark and made a day high at 7825 levels in the early trading hours. Subsequently it drifted lower testing the 7780 levels, wherein the Nifty traded in narrow range. Post mid- session Nifty had traded in the red and tested a day low at 7746 levels but in the last trading hour the Nifty moved higher from the day’s low. We saw some profit-booking in the Nifty index. Finally, the Nifty closed with a minor loss of 16.5 points at 7765.40 levels.
The breadth for the Nifty index has turned from the negative to positive in today’s trading session, as the advance decline ratio ended on the positive side. Out of 50 stocks 27 stocks closed in the green, whereas 22 stocks closed in the red.
Top 5 Nifty Gainers: ASIANPAINTS was the top gainer gaining with 4.46% followed by SUNPHARMA, HINDUNILVR, TECHM and HCLTECH.
Top 5 Nifty Losers: ITC was the top loser with a loss of 6.83% followed by CAIRN, COALINDIA, RELIANCE and ONGC.
In today’s trading session, the Pharma sector was the top gainer gain with 1.01% whereas the FMCG sector was the top loser losing with 2.76%.
The Asian markets quoted in mixed; China's Shanghai Composite was up by 0.33% today, Hong Kong's Hang-Seng was down by 0.15% , while Japan's Nikkei was up by 0.98% today.
The European indices traded in green. London’s FTSE 100 index was up by 0.52% and the German DAX up by 1.76% while the French CAC also up by 1.66%.
Derivative Analysis
The Nifty November futures open interest has increases by 2.62%. Bank Nifty November futures open interest has increased by 1.41%. Nifty market closed at 7,765.40 levels & Bank Nifty closed at 16,947.00 levels.
The Nifty December future closed at a premium of 46.25 point.
The January series closed at a premium of 82.65 points.
The Implied Volatility of at the money options has decline by 1.36%.
Nifty PCR-OI has sustain at 0.82 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.
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