Nifty sees glimmer of hope rises marginally
Chirag Gothi / 14 Dec 2015
In today's trading session the Indian Benchmark Index Nifty opened with the red mark and tested the day low at 7551 levels in the early trading hours. Thereafter the Nifty started to pick up strength, moved higher and traded above the crucial levels of 7600. In mid session the Nifty traded in narrow range and marked a day high at 7663 levels.
Post Market Commentary
In today's trading session the Indian Benchmark Index Nifty opened with the red mark and tested the day low at 7551 levels in the early trading hours. Thereafter the Nifty started to pick up strength, moved higher and traded above the crucial levels of 7600. In mid session the Nifty traded in narrow range and marked a day high at 7663 levels. Thereafter we saw some profit booking in nifty and it drifted lower once again trading in red. In the last trading hour we have seen metal stocks perform well so again the nifty moved higher. Finally, the Nifty given closed at a near day high at 7650 levels with a gain of 39 points.
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 only 33 stocks closed in the green, whereas 15 stocks closed in the red.
Top 5 Nifty Gainers: ADANIPORTS was the top gainer gaining with 5.33% followed by HINDALCO, IDEA, COALINDIA and HINDUNILVR.
Top 5 Nifty Losers: AXISBANK was the top loser with a loss of 4.96% followed by TATAMOTORS, BHARTIARTL, LT and ONGC.
In today’s trading session the Metal sector was the top performer gaining with 2.37% where as Realty was the top loser with a loss of 0.19%.
The Asian markets quoted in mixed; China's Shanghai Composite was up by 2.46% today, Hong Kong's Hang-Seng was down by 0.72% , while Japan's Nikkei was down by 1.84% today.
The European indices traded in green, London’s FTSE 100 index was up by 0.67% and the German DAX was up by 0.39% while the French CAC was also up by 1.31%.
Derivative Analysis
The Nifty November futures open interest has increases by 4.44%. Bank Nifty November futures open interest has increased by 1.12%. Nifty market closed at 7,650.05 levels & Bank Nifty closed at 16,350.65levels.
The Nifty December future closed at a premium of 21.95 point.
The January series closed at a premium of 58.95 points.
The Implied Volatility of at the money options has increases by 3.57%.
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 & 7900 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.
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