Nifty closed with flattish node

In today's trading session the Nifty produced a gap up opening and marked the days high at 7831 levels but due to lack of any positive trigger the nifty lost its strength and drifted lower eventually testing 7887 levels. In the first half trading session the Nifty was volatile and marked the days low at 7763 levels. In the second half of the trading session the Nifty was choppy and traded in a narrow range of 30 points. Tata Steel was an out performer finally with the Nifty closing with a minor loss of 6 points at 7784 levels.

The breadth of the Nifty index has remained negative in today’s trading session, as the advance decline ratio ended on the negative side. Out of 50 stocks 23 stocks closed in the green, whereas 27 stocks closed in the red.

Top 5 Nifty Gainers: TATASTEEL was the top gainer with 6.15% gain followed by VEDL, GAIL, ASIANPAINT and HINDALCO.

Top 5 Nifty Losers: PNB was the top loser with a loss of 1.95% followed by BANKBARODA, POWERGRID, COALINDIA and HINDUNILVR.

In today’s trading session the Metal sector was the top gainer with 3.11% gain whereas PSU Bank was the top loser losing 1.32%.

The Asian markets quoted in red; China's Shanghai Composite was down by 0.26% today, Hong Kong's Hang-Seng was down by 0.65% , while Japan's Nikkei  was also down by 0.42% today.

The European indices traded in the mix, London’s FTSE 100 index was up by 0.29% and the German DAX was down by 0.32% and France’s CAC was down by 0.21%.

Derivative Analysis

The Nifty January futures open interest has increases by 5.75%. Bank Nifty January futures open interest has increases by 10.93%. Nifty market closed at 7,784.65 levels & Bank Nifty closed at 16,542.50 levels.

The Nifty January future closed at a premium of 9.05 point.

The February series closed at a premium of 32.55 points.

The Implied Volatility of at the money options has decline by 0.78%.  

Nifty PCR-OI has sustain at .097 levels.