Markets succumb to selling pressure - IIFL

Markets succumbed to selling pressure on Wednesday as repeated attempt to surpass the resistance of 6,020 was unsuccessful and thereafter Nifty closed below 6,000 levels.

Such move has led to negation of 'bullish hammer' which appeared on Tuesday trading session and hence the Nifty trading range has expanded to 5,900-6,100 in the near term.

Short addition was seen in Sensex future and BSE100 Future which added 1005cont and 12200cont in open interest.

On option front, BSE100 6200 call which added 26,800cont in open interest has seen writing, while Put buying was seen at 5,800 strike which added 25,000cont in open interest.

Source : Equity Bulls

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