Nifty50 opened in upward gape, but failed to sustain above 7700. During first hour Nifty50 tested 7680 level and thereafter witnessed "free fall". Reacting to some negative news, Nifty50 fell by 100 point in two hour of trade to break 7600 level. After small technical bounce, Nifty50 again pushed back to make fresh low at 7575. Finally, Nfity50 closed at 7610. India VIX traded in GREEN. NSE ADR closed near to 0.5. USD_INR Dec future closed 0.2% higher.Except NiftyMetal, NiftyPharma and NiftyFMCG all other sectoral Indices closed in RED. NiftyReality Index closed 2.8% lower. BankNifty Index closed 2,2% lower. NiftyAUTO Index closed 1.75% lower. NiftyIT closed 0.1% lower. Nifty FMCG closed flat. NiftyPharma Index closed 0.1% higher. NiftyMetal Index closed 0.58% higher.
After volatile movement in narrow range, finally Reliance closed flat at 950 INR, just below its 20D SMA. Axis bank, ICICIBank, PNB, CanaraBank each made 52 week day low. Bosch made 52 day low and closed 2.4% lower. ApolloTyre made 52 week low. TataMotor closed 2.7% lower. Infy closed 0.8% higher. Wipro closed 0.17% higher. TCS closed flat. DRREDDY closed 0.9% lower. SunPharma closed flat. OrissaMines made 52week low. TataSteel closed 3.5% higher. Welspun Corp closed 2% lower. L&T made 52 week low and closed 1.8% lower.
Volume in NSE Cash segment and NSE Derivative was higher. FIIs and DIIs both tunned out net buyer of 250 crore INR(net) and 290 crore INR(Net) respectively. IndiaVix closed in Green and at closing NSE ADR is placed near 0.5, which reflects nervousness in market.
Highest OI of near month "PUT OPTIONS" of Nifty50 is bluit at 7500 strike. Therefore, Nifty50 is likely to test 7540 level in next week. Needless to say that further movement will be guided by political news and outcome of USFED meeting.
Disclaimer :-
Writer may have position in market/s as per risk profile and market condition. Reader/s must consult financial adviser/s, while acting on provided information. Writer may have discussed similar things with friends in group.
Written Date : 11.12.2015 Friday 23:00 hours IST
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