Nifty closed below 7800
Chirag Gothi / 22 Dec 2015
In today's trading session the Indian Benchmark Index Nifty opened with the red mark and tested 7800 levels in earlys trading hours. In first half of trading session we saw trade in Nifty was very choppy and traded in narrow range. The upper level was 7831 which was also days high and lower level was 7805 but in second half we saw Nifty lost its strength and drifted lower and traded below the crucial levels of 7800.
Post Market Commentary
In today's trading session the Indian Benchmark Index Nifty opened with the red mark and tested 7800 levels in earlys trading hours. In first half of trading session we saw trade in Nifty was very choppy and traded in narrow range. The upper level was 7831 which was also days high and lower level was 7805 but in second half we saw Nifty lost its strength and drifted lower and traded below the crucial levels of 7800. We have seen selling in ITC, INFY,M&M and TCS Finally, the Nifty closed near days low at 7786 levels with loss of 48 points.
The breadth for the Nifty index has turn positive to negative in today’s trading session, as the advance decline ratio ended on the negative side. Out of 50 stocks 14 stocks closed in the green, whereas 35 stocks closed in the red and one remained unchanged.
Top 5 Nifty Gainers: SUNPHARMA was the top gainer gaining with 1.37% followed by IDEA, ASIANPAINT, AXISBANK and BPCL.
Top 5 Nifty Losers: M&M was the top loser with a loss of 2.01% followed by INDUSINDBK, ITC, HINDALCO and PNB.
In today’s trading session Pharma sector was top gainer gaining 0.34% where as PSU Bank were top loser losing 1.16%.
The Asian markets quoted in mixed; China's Shanghai Composite was up by 0.27% today, Hong Kong's Hang-Seng was up by 0.18% , while Japan's Nikkei was down by 0.16% today.
The European indices traded in mixed, London’s FTSE 100 index was up by 0.01% and the German DAX down by 0.85% and France CAC also down by 0.73%.
Derivative Analysis
The Nifty November futures open interest has increases by 1.29%. Bank Nifty November futures open interest has increased by 1.58%. Nifty market closed at 7,834.45 levels & Bank Nifty closed at 16,825.15 levels.
The Nifty December future closed at a discount of 1.1 point.
The January series closed at a premium of 34.95 points.
The Implied Volatility of at the money options has decline by 1.84%.
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.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.