Indian Markets down 0.20% - Nirmal Bang

Indian markets ended down around 0.20% yesterday on account of weak global cues. Heavy selling pressure was observed in metal stocks today as the China imposed certain restrictions on the capital markets to control the property prices.

Overseas, Dow closed marginally up at 14127.82 (up 38.16pts). The European markets closed mix with FTSE & DAX down 0.48% & 0.21% respectively and CAC up 0.27%.

FIIs were net sellers in cash to the tune o 30.1Cr whereas they bought Index Futures to the tune of 399.4Cr respectively.

India VIX decreased by 2.77% to close at 13.67, touching an intra-day high of 14.50.

Addition in 5700 & 5800 level calls suggest negative undertone in the markets. But the downside for the Nifty Future is expected to be limited from the current levels.

Highest OI build-up is seen at 6000 Call and 5700 strike Put, to the tune of 7.08 mn and 8.07 mn respectively.

Markets are likely to open flat to positive following the mix global cues and are likely to remain range bound during the day.

Source : Equity Bulls

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