Markets rose ending 8 session losing streak - AXISDIRECT

Markets rose on Tuesday, ending an eight-session losing streak that had marked its longest since May 2011, as ONGC gained after quarterly earnings beat estimates, while Tata Motors rose ahead of its results later this week.

Nifty Futures closed at 5941 gaining 0.3% with 2.3% increase in open interest along with 4.5% increase in volumes.

Nifty futures closed with 18.9 points premium as compared to 23.5 points premium in previous trading session.

FII's were sellers in Index Futures to the tune of 237 crores and were sellers in index options to the tune of 28 crores, Stock Futures were bought to the tune of 171 crores.

FII's were net sellers in derivatives segment to the tune of 69 crores compared to buying of 941 crores in previous trading session.

Derivative segment saw 14.8% increase in turnover as compared to previous trading session.

Nifty futures witnessed increase in price with increase in open interest and increase in volumes indicating builtup of long positions from lower levels. Markets are expected to trade rangebound with buying activity to continue in stocks. Nifty may face resistance around 6000 levels while 5900 may act as good support level.

Source : Equity Bulls

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