India VIX increases by 3.77% - Nirmal Bang

Indian markets ended flat with negative bias in yesterday's trading session. The markets remained very range bound due to lack of firm cues.

Overseas, Dow closed marginally positive at 14,613.48 (up 48.23pts). The European markets also closed in positive with FTSE, CAC & DAX up 0.43%, 0.09% & 0.05% respectively.

FIIs were net sellers in cash as well as in Index Future to the tune of Rs 324.9 Cr & 164Cr respectively.

India VIX increased by 3.77% to close at days high 16.77 touching an intra-day high of 16.96.

Significant addition in call OI build up at lower strikes such as 5600, 5700 & 5500 indicates very bearish sentiments in the markets. The shifting of highest put OI build up from 5600 to 5500 clearly confirms the weakness in the markets.

Highest OI build-up is seen at 5800 Call and 5500 strike Put, to the tune of 10.26 mn and 7.93 mn respectively.

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

Source : Equity Bulls

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