Nifty and Sensex close in red on Friday

On Friday, the market closed once again in the red for the fifth consecutive trading session. Nifty closed at 9,711, down by 108 points while Sensex closed at 31,224, down by 307 points. The 50-days moving average mayh provide some buffer Nifty’s downfall. The 50-stocks index has some important support at around 9,702 and the next important support would be at 9,650. The good news is that immediate resistance may be in the range of 9,768-9,810 and the next resistance is placed around 9,894.
 
There were 628 advances, 1,084 declines and 48 unchanged stocks on the NSE, showcasing a strong negative undertone in the market. A somewhat similar proportion was reflected on the Nifty index where there were 15 advances and 35 declines and one stock remained unchanged.
 
In terms of derivatives, Nifty 9,600 Put added 8.6 lakh shares in open interest and Nifty 9,500 Put added 7.9 lakh shares in open interest. Nifty 9,800 Call added 18 lakh shares in open interest on August 11. Nifty 9,700 Call added 9 lakh shares in open interest.