Nifty Tests 8150 Levels

Post Market Commentary

In today's trading session the Nifty opened with green mark followed by global clue but was not able to sustain higher levels and drifted lower testing the 8120 levels. Thereafter Nifty had to consolidate these levels but in mid session Nifty slipped below 8120 levels and hit the day's low at 8096.50 level, but in the last trading session Nifty bounced back and moved higher and finally Nifty gained 33.60 points positive and closed at the 8152.90 level.

The market breadth for the Nifty has turned from positive to neutral in today’s trading session, the advance decline ratio ended on the neutral side. 25 stocks closed in green whereas, and 25 stocks closed in red.

Top Nifty Gainers: TATA MOTORS was top gainer gaining with 5.74% followed by ITC, CIPLA, COALINDIA and GAIL.

Top 5 Nifty Losers: BHEL was the top loser with a loss of 3.16% followed by INFY, ULTRACEMCO, ACC and NTPC.

In today’s trading session all sectors closed in the green and CNX Reality sector was the top gainer gain with 1.07% whereas CNX IT was top loser lose with 1.11%. 

The Asian markets quoted in mixed figures: China's Shanghai Composite was closed today, Hong Kong's Hang-Seng was down by 0.1% , while Japan's Nikkei up by 0.99%.

European market is trading in the red mark,London's FTSE 100 index was down by 0.16%, the German DAX up by 0.33% and the French CAC was up by 0.30%. 

Derivative Analysis

The Nifty October futures open interest has increased by 3.83%. Bank Nifty October futures open interest has decline by 0.85%. Nifty market closed at 8,152.90 levels & Bank Nifty closed at 17,605.35 levels.

The Nifty October future closed at a premium of 9.1point.
 
The November series closed at a premium of 45.1 points.

The Implied Volatility of at the money options has increases by .92%.  

Nifty PCR-OI has sustain at 1.19 levels.

Interpretation: On the basis of above data,its observed that 8000 may act as strong Support & 8300 may act as strong resistance for Nifty Index. Further moment for the index would be on the positive side.