Indian Markets start the week closing marginally lower - Nirmal Bang

Yesterday, Indian markets started the week closing marginally lower led by some profit booking in sectors such as IT, Banks and Auto. Nifty Futures closed marginally lower at 5957.4 (down 1.9pts) adding OI to the tune of 0.2mn.

Overseas, Dow closed nearly half a percent in green at 14447.29 (up 50.22pts). The European markets closed mix with FTSE up 0.31% whereas CAC & DAX down 0.10% & 0.03% respectively

FIIs were net buyers in cash to the tune of 988.2Cr whereas they sold index Futures worth 68.1Cr respectively.

India VIX increased by 6.82% to close at 14.25, touching an intra-day high of 14.32.

Addition in 5700, 5800 & 5900 level puts suggest dominance of bulls in the markets. Nifty Future is expected to continue the positive momentum in the days to come.

Highest OI build-up is seen at 6000 Call and 5700 strike Put, to the tune of 7.65mn and 12.67mn respectively.

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

Source : Equity Bulls

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