India VIX decreased by 3.22% - Nirmal Bang

Market Summary:

- Indian markets ended up 0.60% in a volatile trading session on Tuesday. The RBI left the shortterm lending (repo) rate and the Cash Reserve Ratio (CRR) unchanged at 8% and 4.25%, respectively. Global cues remain positive yesterday as the differences over fiscal cliff resolution in US narrowed down significantly.

- Overseas, DOW closed nearly a percent in green at 13350.96 (up 115.57pts). The European markets also closed positive with FTSE, CAC& DAX up 0.40%, 0.29% & 0.64% respectively.

- FIIs were net buyers in cash to the tune of 922.4Cr whereas they sold Index Futures worth 14.3Cr respectively.

- India VIX decreased by 3.22% to close at 14.44, touching an intra-day high of 14.92.

- Shifting of call OI from 6000 to 6100 level together with addition in put OI at 5800 & 5900 level suggest bullish undertone in the markets. The Nifty Future is expected to approach 6000 level in the days to come.

- Highest OI build-up is seen at 6000 Call and 5800 strike Put, to the tune of 14.23 mn and 11.31 mn respectively.

Markets are likely to open on a positive note following the positive global cues and are likely to remain range bound during the day.

Source : Equity Bulls

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