Nifty closed above 7850

Post Market Commentary

In today's trading session the Indian Benchmark Index Nifty had given gap up opening and sustained above the crucial levels of 7850 in early trading hours. As SEBI has taken strict action against defaulters and market manipulators, traders and investor actively participated, in second half of trading session. We saw Nifty continued its upward journey. Finally, the Nifty closed near days high at 7865 levels with gains of 79 points.

The breadth for the Nifty index was positive in today’s trading session, as the advance decline ratio ended on the positive side. Out of 50 stocks 43 stocks closed in the green, whereas 7 stocks closed in the red. 

Top 5 Nifty Gainers: GAIL was the top gainer gaining with 6.09% followed by HINDALCO, VEDL, BHEL and SUNPHARMA.

Top 5 Nifty Losers: M&M was the top loser with a loss of 0.59% followed by ASIANPAINT ,ADANIPORTS, BPCL and BAJAJ-AUTO.

In today’s trading session all sector closed with green mark and Metal sector was out performer gaining with 2.31%.  

The Asian markets quoted in mixed; China's Shanghai Composite was down by 0.40% today, Hong Kong's Hang-Seng was up by 0.96% , while Japan's Nikkei was closed today.

The European indices traded in green, London’s FTSE 100 index was up by 1.37% and the German DAX up by 1.45% and France CAC also up by 1.42%.


Derivative Analysis

The Nifty November futures open interest has increases by 2.37%. Bank Nifty November futures open interest has decline by 0.80%. Nifty market closed at 7,863.30 levels & Bank Nifty closed at 16,903.35 levels.

The Nifty December future closed at a discount of 0.35 point.

The January series closed at a premium of 29.7 points.

The Implied Volatility of at the money options has decline by 5.83%.  

Nifty PCR-OI has sustain at 0.97 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.