Nifty still sustain above 7600 levels

                                  
Post Market Commentary:

In today's trading session the Indian Benchmark Index Nifty opened with the green mark and tested the higher levels of 7700 in early trading hours. Thereafter the Nifty started to lose its strength and drifted lower at 7650. Since early trading session the Banking stocks and reality stocks were  under pressure and that caused the Nifty to drift lower below 7600 levels further hitting a day low at 7575 levels but in the last trading hour as expected we have seen a recovery in the Nifty from the lower levels. Finally, Nifty given closed at 7610 levels with a loss of 72 points.

The breadth for the Nifty index turned from positive to negative in today’s trading session, as the advance decline ratio ended on the negative side. Out of 50 stocks only 09 stocks closed in the green, whereas 41 stocks closed in the red. 

Top 5 Nifty Gainers: TATASTEEL was the top gainer gaining with 3.56% followed by HINDALCO, INFY, VEDL and HINDUNILVR.

Top 5 Nifty Losers: PNB was the top loser with a loss of 4.96% followed by ICICIBANK, YESBANK, TATAMOTORS and GRASIM.

In today’s trading session Metal sector was the top performer gaining with 0.68% whereas Realty was the top loser with a loss of  2.76%.  

The Asian markets quoted in mixed; China's Shanghai Composite was down by 0.58% today, Hong Kong's Hang-Seng was down by 1.12% , while Japan's Nikkei was up by 0.96% today.

The European indices traded in red, London’s FTSE 100 index was down by 0.50% and the German DAX wad up by 0.50%. The French CAC was also down by 0.50%.


Derivative Analysis

The Nifty November futures open interest has increases by 6.5%. Bank Nifty November futures open interest has increased by 8.84%. Nifty market closed at 7,610.85 levels & Bank Nifty closed at 16,342.50 levels.

The Nifty December future closed at a premium of 17.15 point.

The January series closed at a premium of 54.5 points.

The Implied Volatility of at the money options has increases by 5.24%.  

Nifty PCR-OI has sustain at 0.80 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.