Indian Markets end week on positive note - Nirmal Bang

Indian markets snapped three sessions losing streak and gain around 1% to end the weak on positive note on Friday. The markets rallied on account of increased optimism of rate cut by the RBI on 29 January.

Overseas, Dow closed over half a percent in green on Friday at 13895.98 (up 70.65pts). The European markets also closed positive with FTSE, CAC & DAX up 0.31%, 0.69% & 1.40% respectively.

FIIs were net buyers in cash to the tune of 586.9Cr whereas they sold Index Futures worth 313 Cr respectively.

India VIX increased by 2.14% to close at 14.77, touching an intra-day high of 14.97.

Heavy additions in put OI build up at 6000 as well as 6100 level suggest dominance of bulls in the markets. The Nifty Future is expected to cross 6100 level in the days to come.

Highest OI build-up is seen at 6200 Call and 5800 strike Put, to the tune of 12.55 mn and 12.25 mn respectively.

Markets are likely to open on a positive note following the positive global cues and s likely to advance during the day.

Source : Equity Bulls

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