Nifty slips to 5893.65 - Nirmal Bang

Indian markets had a volatile session yesterday wherein the index slipped to 5893.65 after touching a high of 5952 (spot) despite of better than expected IIP numbers (2.4% v/s exp. Of 1.2%). Nifty Futures closed marginally lower at 5937 (down 20pts) deleting OI to the tune of 0.51mn.

Overseas, Dow closed flat at 14,450.06 (up 2.77 pts). The European markets also closed flat with FTSE & CAC up 0.11% & 0.10% respectively whereas DAX closed down 0.23% yesterday.

FIIs were net buyers in cash to the tune of 988.2Cr whereas they sold index Futures worth 517.6 Cr.

India VIX increased by 6.18% to close at 15.13, touching an intra-day high of 15.65.

Addition in 5600, 5700 & 5800 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 8.49mn and 14.02mn respectively.

Markets are likely to open marginally lower following the mix global cues and are likely to remain range bound but with negative bias during the day.

Source : Equity Bulls

Keywords