Yet another day, Nifty closes in red
Chirag Gothi / 06 Jan 2016
In today's trading session Nifty opened in the red and then later moved higher but was not able to cross 7800 levels. In the first half trading session Nifty traded in a narrow range, where as the upper limit was 7800 levels and lower level was 7784. In second half trading session we have seen that Nifty lost its strength and drifted lower
Post Market Commentary
In today's trading session Nifty opened in the red and then later moved higher but was not able to cross 7800 levels. In the first half trading session Nifty traded in a narrow range, where as the upper limit was 7800 levels and lower level was 7784. In second half trading session we have seen that Nifty lost its strength and drifted lower marking the days low at 7721 levels. But later we have seen some recovery in nifty. Reliance was an out performer in today's trading session. finally Nifty given a close with loss of 43 points at 7741 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 12 stocks closed in the green, whereas 38 stocks closed in the red.
Top 5 Nifty Gainers: RELIANCE was the top gainer gaining with 2.38 % followed by CIPLA, TCS, BPCL and INDUSINDBK.
Top 5 Nifty Losers: VEDL was the top loser with a loss of 3.95 % followed by ITC, HINDALCO, ICICIBANK and TATAMOTORS.
In today ’ s trading session Energy sector was the top gainer gaining with 1.26 % whereas Metal sector was the top loser losing 1. 81 %.
The Asian markets quoted in the mix ; China's Shanghai Composite was up by 2.22 % today, Hong Kong's Hang-Seng was down by 0. 99 % , while Japan's Nikkei also down by 1.00 % today.
The European indices traded in red , London ’ s FTSE 100 index was down by 0. 85 % and the German DAX was down by 0. 91 and France CAC was down by 0. 86 %.
Derivative Analysis
The Nifty January futures open interest has increases by 3.25%. Bank Nifty January futures open interest has increases by 6.12%. Nifty market closed at 7,741.00 levels & Bank Nifty closed at 16,433.15 levels.
The Nifty January future closed at a premium of 3.95 point.
The February series closed at a premium of 27.4 points.
The Implied Volatility of at the money options has decline by 0.89%.
Nifty PCR-OI has sustain at .094 levels.
Interpretation: On the basis of above data,its observed that 7700 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.
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