Profit Booking By Investor; Nifty 8060 Levels Remains Crucial

Post Market Commentary:

After opening the day on a flattish note, the Indian benchmark indices moved in a narrow range as cues from the Asian Markets were subdued. However, in the second half of the trading session activity was seen in the broader market and index heavyweight ITC provided much needed support to the index and the Nifty index closed near 8130 levels.

The breadth for the Nifty index has turn from neutral to negative in today’s trading session, as the advance decline ratio ended on the negative side. Out of 50 stocks 24 stocks closed in green  whereas 26 stocks closed in the red. 

Top Nifty Gainers: ULTRACEMCO was the top gainer gain with 1.94% followed by BAJAJ-AUTO, COALINDIA, BPCL, and YESBANK.

Top 5 Nifty Losers: IDEA was the top loser with a total  loss of 3.80% followed by ONGC, HINDALCO, VEDL and HCLTECH.
 
In today’s trading session CNX Reality sector was the top gainer gain with 1.08% whereas CNX IT was top loser lose with 0.93%.  
 
The Asian markets quoted in mixed; China's Shanghai Composite was up by 0.18% today, Hong Kong's Hang-Seng down by 0.58% , while Japan's Nikkei declined by 1.12%.
 
European indices were trading in red, London’s FTSE 100 index is down by 0.86% and the German DAX was up by 1.30% and France's CAC was down by 1.74%.


Derivative Analysis:

The Nifty October futures open interest has increased by 4.09%. Bank Nifty October futures open decreased has increases by 3.94%. Nifty market closed at 8,131.70 levels & Bank Nifty closed at 17,554.85 levels.

The Nifty October future closed at a discount of 1.05 point.
 
The November series closed at a premium of 38.3 points.

The Implied Volatility of at the money options has decline by 5.79%.  

Nifty PCR-OI has sustain at 1.24 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.