Nifty closed above 7900 levels
Chirag Gothi / 28 Dec 2015
In today's trading session Nifty opened with green mark and moved higher and tested 7900 levels in early trading hours. But then after the Nifty rally paused in first half of trading session and traded in very narrow range between 7894 and 7905 levels but in second half of trading session,
Post Market Commentary
In today's trading session Nifty opened with green mark and moved higher and tested 7900 levels in early trading hours. But then after the Nifty rally paused in first half of trading session and traded in very narrow range between 7894 and 7905 levels but in second half of trading session, we have seen investors buying in Tata motors, ONGC, ICICI Banks Nifty and this led to the Nifty picking up its strength and continue its up rally.Finally, the Nifty closed near days high with gained 64 point and closed at 7925 levels.
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 33 stocks closed in the green, whereas 16 stocks closed in the red.
Top 5 Nifty Gainers: DRREDDY was the top gainer gaining with 3.75% followed by TATAMOTORS, NTPC, SUNPHARMA and ICICIBANK.
Top 5 Nifty Losers: TATASTEEL was the top loser with a loss of 3.40% followed by BHARTIARTL, ACC, GRASIM and IDEA.
In today’s trading session pharma sector were top gainer gaining 1.82% whereas Metal sector was top loser losing 0.99%.
The Asian markets quoted in mixed; China's Shanghai Composite was down by 2.64% today, Hong Kong's Hang-Seng was down by 1.00% , while Japan's Nikkei was up by 0.55%.
The European indices traded in red, London’s FTSE 100 index is closed for today and the German DAX was down by 0.13% and France CAC was down by .037%.
Derivative Analysis
The Nifty December futures open interest has increases by 10.200%. Bank Nifty December futures open interest has decline by 5.60%. Nifty market closed at 7,925.15 levels & Bank Nifty closed at 16,979.15 levels.
The Nifty December future closed at a discount of 20.65 point.
The January series closed at a premium of 5 points.
The Implied Volatility of at the money options has increased by 4.67%.
Nifty PCR-OI has sustain at 0.96 levels.
Interpretation: On the basis of above data,its observed that 7800 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.
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