Indian Markets end up 0.77% - Nirmal Bang

Indian markets ended up 0.77% yesterday lead by the ADAG stocks on account of an inter-city fiber sharing agreement between the Ambani brothers. Reliance Jio Infocomm and Reliance Communications (RCom) sign Rs 1,200 crore agreements for sharing of RCom's nationwide optic fiber network which has improved the markets sentiments yesterday.

Overseas, Dow closed over half a percent in green at 14,662.01 (up 89.16pts). The European markets also closed in green with FTSE, CAC & DAX up 1.22%, 1.94% & 1.87% respectively.

FIIs were net sellers in cash to the tune of Rs 45.41Cr whereas they bought Index Futures to the tune 137.9Cr respectively.

India VIX decreased by 5.05% to close at days high 14.10 touching an intra-day high of 15.06.

Continuous addition in put OI at 5600, 5700 & 5800 suggest continuation of bullish trend in the markets. Put OI build up to the tune of 7.13 mn is expected to provide firm support for the Nifty Future.

Highest OI build-up is seen at 5900 Call and 5600 strike Put, to the tune of 6.66 mn and 9.42 mn respectively.

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

Source : Equity Bulls

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