Nifty sustained above 7900 levels
Chirag Gothi / 29 Dec 2015
In Tuesday's trading session Nifty opened with green mark and clocked day's high at 7942 levels in early trading hours.Later Nifty drifted lower and tested 7920 levels but soon after it after then traded in a very narrow range between 7920 and 7940.
Post Market Commentary
In Tuesday's trading session Nifty opened with green mark and clocked day's high at 7942 levels in early trading hours.Later Nifty drifted lower and tested 7920 levels but soon after it after then traded in a very narrow range between 7920 and 7940. During the mid trading session we witnessed Nifty losing its strength and drifting lower and testing 7902 levels. Finally marking day’s low. In the last trading hour of the day Nifty turned from lower levels and managed to sustain 7920 levels. Finally, the Nifty closed at 7928 levels with minor gain of just 3 point.
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 24 stocks closed in the green, whereas 25 stocks closed in the red and one remain unchanged.
Top 5 Nifty Gainers: BAJAJ-AUTO was the top gainer gaining with 1.70% followed by AMBUJACEM, GRASIM, ACC and M&M.
Top 5 Nifty Losers: HCLTECH was the top loser with a loss of 1.75% followed by BHEL, COALINDIA, POWERGRID and DRREDDY.
In today’s trading session Auto and Media sector were top gainer gaining 0.49% whereas Reality sector was top loser losing 1.28%.
The Asian markets quoted in green; China's Shanghai Composite was up by 0.85% today, Hong Kong's Hang-Seng was up by 0.36% , while Japan's Nikkei was up by 0.57%.
The European indices traded in green, London’s FTSE 100 index was up bu 0.51% and the German DAX was up by 1.60% and France CAC was up by 1.47%.
Derivative Analysis
The Nifty December futures open interest has increases by 0.57%. Bank Nifty December futures open interest has decline by 6.07%. Nifty market closed at 7,928.95 levels & Bank Nifty closed at 16,991.45 levels.
The Nifty December future closed at a premium of 8.45 point.
The January series closed at a premium of 31.5 points.
The Implied Volatility of at the money options has decline by 1.16%.
Nifty PCR-OI has sustain at 1.04 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.
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.