Nifty Closed At One Year Low
Post Market Commentary:
Nifty gave a negative start, afterwards it slipped lower and extended its loss, Nifty index slipped below the crucial psychological level of 7,800. Finally Nifty given close at 77l7 levels with loss of 68.35 points.
Market breadth for the Nifty Index remains weak as the advance decline ratio ended on the negative side today. Only 14 stock closed with green mark whereas, 36 stock closed in red.
Top 5 Nifty Gainers: Tech Mahindra was top gainer gaining 5.19% followed by Idea Cellular, TCS, UltraTech Cement, Tata Steel..
Top 5 Nifty Losers: BHEL was top looser with a loss of 4.80% followed by ONGC, SBI,CAIRN, HINDUNILVR.
In today’s trading session CNX IT sector was top gainer and gained with 1.12 per cent, whereas CNX PSU BANK sector was top looser and was down by 3.16% per cent.
The Asian markets were quoting with red mark; China's Shanghai Composite declined by 6.46 points, Hong Kong's Hang-Seng slipped by 250.49 point, while Japan's Nikkei was down by 70.29 point.
European market recovered from a rough start and are now trading with green mark.
Derivative Analysis
The Nifty September futures open interest has increased by 2.98%. Bank Nifty September futures open interest has increases by 19.70%. Nifty market closed at 7717.00 levels & Bank Nifty marked closed at 16252.70 levels.
The Nifty September future closed at a premium of 35 point.
The October series closed at a premium of 75.95 points.
The Implied Volatility of at the money options has decline by 7.20 per cent.
Nifty PCR-OI has sustain at 1.06 levels.
Interpretation: On the basis of above data,its observed that 7500 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.