Nifty Jump From Lower Levels
Chirag Gothi / 15 Dec 2015
In today's trading session the Indian Benchmark Index Nifty opened with the green mark and drifted lower testing the day low at 7625 levels in the early trading hours. In the first half of the trading session, the Nifty traded in narrow range where the lower levels were 7625 and higher levels were 7655,
Post Market Commentary
In today's trading session the Indian Benchmark Index Nifty opened with the green mark and drifted lower testing the day low at 7625 levels in the early trading hours. In the first half of the trading session, the Nifty traded in narrow range where the lower levels were 7625 and higher levels were 7655, but thereafter in the second half of the trading session the Nifty started to pick up strength and moved higher trading above the crucial levels of 7695. Finally, the Nifty given closed at a near day high at 7700 levels with gain of 50 points.
The breadth for the Nifty index has remained positive in today’s trading session, as the advance decline ratio ended on the positive side. Out of 50 stocks only 32 stocks closed in the green, whereas 16 stocks closed in the red.
Top 5 Nifty Gainers: BOSCHLTD was the top gainer gaining with 3.09% followed by HINDUNILVR, LUPIN, ONGC and RELIANCE.
Top 5 Nifty Losers: TECHM was the top loser with a loss of 4.10% followed by PNB, IDEA, WIPRO and ICICIBANK.
In today’s trading session MNC sector was the top performer gaining with 1.43% where as IT was the top loser with a loss of 0.30%.
The Asian markets quoted in red; China's Shanghai Composite was down by 0.28% today, Hong Kong's Hang-Seng was down by 0.17% , while Japan's Nikkei was down by 1.71% today.
The European indices traded in green, London’s FTSE 100 index was up by 1.67% and the German DAX was up by 1.98%. The French CAC was also up by 2.09%.
Derivative Analysis
The Nifty November futures open interest has increases by 6.89%. Bank Nifty November futures open interest has increased by 5.82%. Nifty market closed at 7,700.90 levels & Bank Nifty closed at 16,398.65 levels.
The Nifty December future closed at a premium of 5.1 point.
The January series closed at a premium of 40.1 points.
The Implied Volatility of at the money options has decline by 2.55%.
Nifty PCR-OI has sustain at 0.88 levels.
Interpretation: On the basis of above data,its observed that 7600 may act as strong Support & 8100 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.
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