Nifty closed near day’s high, but strong resistance at 7950 levels
Chirag Gothi / 31 Dec 2015
Post Market Commentary
The Nifty index opened flat and traded in the green. In the early trading session the Nifty traded in very narrow range between 7905 and 7891 levels, but in second half of trading session, we witnessed Nifty started to picking up the its strength and moved higher as market participants rollovered their position at higher levels. Heavy weights such as HDFC, Infy, Gail has led to the gain in Nifty. At the end Nifty closed near day’s high with gain of 50 points at 7946 levels.
The breadth for the Nifty index has turn negative to positive in today’s trading session, as the advance decline ratio ended on the positive side. Out of 50 stocks 31 stocks closed in the green, whereas 18 stocks closed in the red and one stock remained unchange.
Top 5 Nifty Gainers: HDFC was the top gainer gaining with 2.42% followed by ZEEL, GAIL ,HCLTECH and INFY.
Top 5 Nifty Losers: PNB was the top loser with a loss of 1.53% followed by VEDL, AXISBANK, YESBANK and HEROMOTOCO.
In today’s trading session Reality sector were top gainer gaining 1.80% whereas PSU Bank were top loser losing 0.49%.
The Asian markets quoted in mixed; China's Shanghai Composite was down by 0.94% today, Hong Kong's Hang-Seng was up by 0.15% , while Japan's Nikkei was closed today.
The European indices traded in red, London’s FTSE 100 index was down by 0.26% and the German DAX was closed today and France CAC was down by 0.34%.
Derivative Analysis
The Nifty December futures open interest has decline by 10.46%. Bank Nifty December futures open interest has decline by 30.20%. Nifty market closed at 7,946.35 levels & Bank
Nifty closed at 16,922.20 levels.
The Nifty January future closed at a premium of 8.35 point.
The February series closed at a premium of 27.5 points.
The Implied Volatility of at the money options has decline by 3.34%.
Nifty PCR-OI has sustain at 1.01 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.