Nifty closes at near day low
Chirag Gothi / 09 Dec 2015
In today's trading session the Indian Benchmark Index Nifty had opened at the 7695 levels and tested the crucial levels of 7702 which was a day high. Thereafter the Nifty lost its strength and drifted lower testing the 7660 levels. The whole mid session the Nifty traded in narrow range where 7680 was the higher end and 7660 was lower end.
Post Market Commentary
In today's trading session the Indian Benchmark Index Nifty had opened at the 7695 levels and tested the crucial levels of 7702 which was a day high. Thereafter the Nifty lost its strength and drifted lower testing the 7660 levels. The whole mid session the Nifty traded in narrow range where 7680 was the higher end and 7660 was lower end. But in the last trading hour as expected we saw a sharp fall in the Nifty. Finally, the Nifty given closed at a near day low with a loss of 89 points at 7612 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 5 stocks closed in the green, whereas 45 stocks closed in the red.
Top 5 Nifty Gainers: BHEL was the top gainer gaining with 2.70% followed by TCS, ITC, ONGC and NTPC.
Top 5 Nifty Losers: VEDL was the top loser with a loss of 6.22% followed by BPCL, CIPLA, TATASTEEL and COALINDIA
In today’s trading session all sectors closed with the red mark, where the Metal sector was the top loser with a loss of 3.18%.
The Asian markets quoted in mixed; China's Shanghai Composite was up by 0.09% today, Hong Kong's Hang-Seng was down by 0.46% , while Japan's Nikkei was down by 0.99% today.
The European indices traded in red, London’s FTSE 100 index was down by 0.17% and the German DAX down by 0.49%. The French CAC was also up by 0.55%.
Derivative Analysis
The Nifty November futures open interest has increases by 7.82%. Bank Nifty November futures open interest has increased by 12.7%. Nifty market closed at 7,612.5 levels & Bank Nifty closed at 16,660.75 levels.
The Nifty December future closed at a premium of 36 point.
The January series closed at a premium of 73.2 points.
The Implied Volatility of at the money options has increases by 4.71%.
Nifty PCR-OI has sustain at 0.82 levels.
Interpretation: On the basis of above data,its observed that 7500 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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