Indian Stocks 5-January2016

Nifty50 opened in upward gap, slipped to test 7780 level, bounced in GREEN to 7815, slide again to make day's low at 7764. Made three failed attempt to cross 7810 level and finally closed below 7800 level in RED. India Vix traded in RED. NSE Advance Decline Ratio opened above one and closed above two. USD- INR January expiry future on NSE closed flat.

All sectoral Indices closed in RED. NiftyMetal Index closed 3.2% higher on news of some duty relaxation. NiftyPharma Index closed 0.07% higher. NiftyIT Index closed 0.3.% lower. NiftyReality Index closed 1.8% higher. BankNifty closed 0.34% lower. NiftyAuto index closed 0.23% lower. NiftyFMCG Index closed 0.2% lower.

Reliance closed 1% higher. Welspun Corp closed 3,1% higher. TataSteel closed 6.1% higher. Glenmark closed 0.47% higher. SunPharma closed 0.21% lower. Cadila closed 2.3% lower. Infy closed 0.55% lower. TCS closed 0.83% lower. Oberoi Reality closed 3.67% higher. HDIL closed 5.24% higher. ICICI Bank closed 0.6% higher. Four main PSU Bank stocks SBI, PNB, Canara Bank, BankIndia made fresh 52 week low. SBI closed 1.34% lower.PNB closed 1.95% lower. Canara Bank closed 1.3% lower. BankIndia closed 0.8% lower. Bosch closed 0.7% lower. TataMotor closed 1.07% lower.

On NSE, Turnover in Equity segment was higher than previous session, whereas Turnover in Derivative segment was lower than previous session. As per EoD provisional statistics, FII/FPIs sold equity worth 350 crore INR(net), and DIIs sold equity worth 13 crore INR(net).

At the time of writing of this blog Chinese Govt. has announced stimulus package to calm down equity market. At the same time six month locking period for large institutes in Chines stock market coming to end from tomorrow. Therefore, Chinese market likely to remain volatile and likely to influence Global stock markets.

At the end of session, India Vix is placed in RED and well above 15. NSE ADR is placed above two. Both these together indicates some internal optimism. However, today's volatile session suggest that 7815 level is likely to act as immediate resistance for Nifty for coming session. 

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 :  05.01.2016  22:30 hours  IST