Nifty manages to cross 7938 whilst next resistance is at 8030

Post Market Commentary

Nifty index opened on the first day of the new year in red mark and drifted lower during the early trading hours and marked day's low at 7909. Later in the day, Nifty slowly started to move higher and tested 7940 levels, its previous close mark. During second half of the not-so-exciting trading session, we saw Nifty to pick up its strength and it finally, moved higher in a market which was let by heavy weights,  Tata Motors, SBI, BHEL. At the end of the day, Nifty recorded a  gain of 16 points at 7963.
     
Breadth for Nifty index has remained positive in Friday's trading session  as the advance decline ratio ended on the positive side. Out of 50 stocks 26 stocks closed in the green, whereas 24 stocks closed in the red . 

Top 5 Nifty Gainers: BOSCHLTD was the top gainer. It gained 2.96% followed by TATAMOTORS, ADANIPORTS, PNB and ULTRACEMCO.

Top 5 Nifty Losers: GAIL was the top loser with a loss of 1.51% followed by ZEEL, HCLTECH, NTPC and TCS.

In Friday's trading session, real estate sector was top gainer gaining 1.88% whereas IT sector was the top loser losing 0.34%.  

The Asian and European markets were closed today.

Derivative Analysis

The Nifty January futures open interest has increases by 3.38%. Bank Nifty January futures open interest has increases by 5.83%. Nifty market closed at 7,963.20 levels & Bank Nifty closed at 17,93,850 levels.

The Nifty February future closed at a premium of 19.8 point.

The March series closed at a premium of 39.45 points.

The Implied Volatility of at the money options has rise by 2.81%.  

Nifty PCR-OI has sustain at 0.95 levels.

Interpretation: On the basis of above data,its observed that 7900 may act as strong Support & 8200 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.