Indian Stocks 15-January2016

Nifty50 opened in upward gap at 7,561; slipped back to yesterday's closing level at 7,534; flip flopped between 7,500 and 7,534 in morning session. In the afternoon session, Nifty50  shedded 100 point in last two hour of trading and closed at 7,437 or 1.31% lower. Today, Nifty50 had free fall from 7550 level. In other words, now 7,550 is likely to act as immediate resistance level for Nifty50. IndiaVix opened flat; switched into GREEN to hover around its opening level and in afternoon session surged to close 4.35% higher at 19.41. NSE Advance Decline Ratio (ADR) opened above four and continuously deteriorated. In afternoon session deterioration accelerated which pushed ADR below 0.1. In simple words, at the end of session, out of ten stock traded on NSE, nine stocks closed below previous day's closing level. On NSE, USD-INR currency January'16 expiry future opened in upward gap and closed 0.52% higher at 67.73 INR.

Bank Nifty closed 2.58% lower. NiftyAuto Index closed 1.83% lower. NiftyMetal Index closed 3.54% lower. NiftyPharma Index closed 0.96% lower. NiftyIT Index closed 0.13% higher. NiftyFMCG Index closed 1.76% lower. NiftyReality Index closed 4.52% lower.

Reliance closed 1 % higher. TataSteel closed 3.87 % lower. Jindal Steel made fresh 52 week low and closed 13 % lower. Vedanta made fresh 52 week low and closed 8 % lower. OrissaMines, NMDC, SAIL, Bhusan Steel made fresh 52 week low and closed in RED.  SunPharma closed flat.  Glenmark closed 4.7 % lower. Infy closed 0.62 % higher. CYIENT made fresh 52 week low and closed 6.7 % lower. HDIL 9 % lower. SBI made fresh 52 week low and closed 6.5 % lower. AXIS BANK, ICICI BANK, PNB, CANARA BANK, Bank India, Bank Baroda also made fresh 52 week Low and closed in RED. Federal Bank closed 1% higher. TataMotor closed 3.84 % lower. ApolloTyre made fresh 52 week low and closed 5.55 % lower. Exide Industry made fresh 52 week low and closed 3.21 % lower.

On NSE, Turnover in Equity and Derivative segment was lower than previous session. As per EoD provisional statistics, FII/FPIs Sold equity worth 1,123 crore INR(net), and DIIs Bought equity worth 688 crore INR(net).

At the end of session, India Vix is placed in GREEN. NSE ADR is placed at 0.1. Both these together indicates that Nifty is entering into oversold territory.  

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 :  15-January 2016  21:30 hours IST .