DSIJ Mindshare

Market Remained Cautious

Post Market Commentary:
 

After giving a gap up opening the Nifty index register high of 8244.50 in the early part of the trading session. The Selling pressure in the IT and Pharmaceuticals stocks dragged the index lower in the second half of trading session. Sentiment was hit after the IT bellwether Infosys reduced its guidance and the Nifty index closed near day’s low.
 
The breadth for the Nifty turned negative to neutral in today’s trading session, as the advance decline ratio ended on the neutral side. Out of 50 stocks 25 stocks closed in green whereas 25 stocks closed in the red. 

Top Nifty Gainers: VEDL was the top gainer gain with 6.37% followed by HINDALCO, GAIL, TATAMOTORS and BHEL
 
Top 5 Nifty Losers: INFY was the top loser with loss of 3.81% followed by BANKOFBARODA, ,CIPLA ,LUPIN and SUNPHARMA. 

In today’s trading session CNX Metal sector was the top gainer gain with 1.95% whereas CNX IT was the top loser losing with 1.5%.  
 
The Asian markets quoted in green; China's Shanghai Composite was up by 3.18% today, Hong Kong's Hang-Seng was up by 1.20% , while Japan's Nikkei was closed today.
 
European indices quoted in mixed, London’s FTSE 100 index is down by 0.87% and the German DAX up by 0.07% and France's CAS was down by 0.56%.
 
Derivative Analysis:
 
The Nifty October futures open interest has increased by 6.13%. Bank Nifty October futures open decreased has decline by 6.08%. Nifty market closed at 8,143.60 levels & Bank Nifty closed at 17,583.15levels.
 
The Nifty October future closed at a premium of 10.45 point.
 
The November series closed at a premium of 53.1 points.
 
The Implied Volatility of at the money options has increases by 1.4%.  
 
Nifty PCR-OI has sustain at 1.21 levels.








Interpretation: On the basis of above data,its observed that 8100 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.





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