Nifty touches two-year highs - Axis Direct

- Markets extended their gains by trading in the green for the third day of the new year after touching two year highs yesterday. The Nifty ended above 6,000 level for the first time since January 6, 2011.

- Nifty Futures closed at 6040 gaining 0.1% with 0.5% increase in open interest along with 30.1% decrease in volumes.

- Nifty futures closed with 30.1 points premium as compared to 42.4 points premium in previous trading session.

- FII's were buyers in Index Futures to the tune of 433 crores and were buyers in index options to the tune of 334 crores, Stock Futures were bought to the tune of 57 crores.

- FII's were net buyers in derivatives segment to the tune of 751 crores compared to buying of 2736 crores in previous trading session.

- Derivative segment saw 24.8% decrease in turnover as compared to previous trading session.

Nifty futures witnessed mild increase in price with increase in open interest but decrease in volumes indicating lack of participation at higher levels. Markets are expected to trade range bound with bouts in positive and negative territory. Nifty may face resistance around 6070 levels while 5960 may act as good support level.

Source : Equity Bulls

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