Nifty closes above 7600 mark
Chirag Gothi / 10 Dec 2015
In today's trading session the Indian Benchmark Index Nifty opened with the green mark and drifted lower testing the crucial levels of 7600 which was a day's low. Thereafter the Nifty started to pick up strength wherein the Energy sector actively participated so the Nifty moved higher.
Post Market Commentary
In today's trading session the Indian Benchmark Index Nifty opened with the green mark and drifted lower testing the crucial levels of 7600 which was a day's low. Thereafter the Nifty started to pick up strength wherein the Energy sector actively participated so the Nifty moved higher. In the last trading hour as expected we have seen sharp bounce in the Nifty levels. Finally, the Nifty closed at a near day high with a gain of 70 points at 7683 levels.
The breadth for the Nifty index has turn from negative to positive in today’s trading session, as the advance decline ratio ended on the positive side. Out of 50 stocks 37 stocks closed in the green, whereas 13 stocks closed in the red.
Top 5 Nifty Gainers: RELIANCE was the top gainer gaining with 3.64% followed by TATASTEEL, HINDALCO, HDFC and BAJAJ-AUTO.
Top 5 Nifty Losers: LUPIN was the top loser with a loss of 1.74% followed by M&M, YESBANK, TATAMOTORS and PNB.
In today’s trading session Energy sector was top performers gaining with 2.51% where as PSU Bank were top loser lose with 0.96%.
The Asian markets quoted in red; China's Shanghai Composite was down by 0.46% today, Hong Kong's Hang-Seng was down by 0.46% , while Japan's Nikkei was down by 1.34% today.
The European indices traded in mixed, London’s FTSE 100 index was down by 0.21% and the German DAX up by 0.21% and France CAC also down by 0.33%.
Derivative Analysis
The Nifty November futures open interest has increases by 1.69%. Bank Nifty November futures open interest has increased by 10.90%. Nifty market closed at 7,683.30 levels & Bank Nifty closed at 16,711.05 levels.
The Nifty December future closed at a premium of 25.6 point.
The January series closed at a premium of 65.25 points.
The Implied Volatility of at the money options has decline by 2.58%.
Nifty PCR-OI has sustain at 0.86 levels.
Interpretation: On the basis of above data,its observed that 7500 may act as strong Support & 7700 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.
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