Nifty struggles to cross resistance of 5940 - IIFL

Markets began with positive note on Monday but Nifty struggled through out the day to cross resistance of 5,940 and finally closed in the red. Two days of consecutive close below the rising support lines warrants for caution with immediate support seen at 5,850 levels. Today we expect IIP nos to determine the trend with major trading range seen at 5,850-5,950.

Fresh shorts were seen in Sensex future which added 6645cont, while BSE100 future which shed 100cont in open interest witnessed short unwinding.

On option front, Sensex Feb 20,000strike call which added 49290cont in open interest has seen buying, while put buying was seen at Feb 19,800strike which added 2250cont in open interest.

Source : Equity Bulls

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