Nifty Volatile; Closes With Minor Gain

Post Market Commentary

In today's trading session the Nifty gave a gap up opening and hit a day's high at 8008.25 levels in the early trading hours but was not able to sustain higher levels owing to the lack of buyers. The Nifty started to lose its strength and drifted lower, in mid session Nifty was very choppy and traded in the narrow range of 30 points only. Finally, the Nifty given close near days low with minor gain of two points positive and closed at 7950.90 level.

The market breadth for the Nifty has turned from positive to negative in today’s trading session, where the advance decline ratio ended on the negative side. 24 stocks closed with a green mark whereas, 26 stocks closed in red.

Top Nifty Gainers: ULTRACEMCO was top gainer gain with 3.84% followed by LUPIN, ZEEL,SUNPHARMA and ADANIPORTS.

Top 5 Nifty Losers: HCLTECH was the top loser with loss of 12.54% followed by BHEL, GAIL, MARUTI and VEDL.

In today’s trading session CNX PHARMA sector was the top gainer gain with 1.72% whereas CNX REALITY sector was top loser, with lose of 1.67%.

The Asian markets quoted in mixed figures; China's Shanghai Composite was closed today, Hong Kong's Hang-Seng was closed today, while Japan's Nikkei was up by 1.39%.

European market trading in red mark, London's FTSE 100 index was up by 1.18%, the German DAX down by 0.01% and the French CAC was up by 0.85%. 

Derivative Analysis

The Nifty October futures open interest has increased by 6.14%. Bank Nifty October futures open interest has increased by 3.16%. Nifty market closed at 7,950.90 levels & Bank Nifty closed at 17,150.20 levels.

The Nifty October future closed at a premium of 23.15 point.
 
The November series closed at a premium of 61.1 points.

The Implied Volatility of at the money options has decline by 1.98%.  

Nifty PCR-OI has sustain at 1.08 levels.

Interpretation: On the basis of above data,its observed that 7800 may act as strong Support & 8000 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.