Nifty has broken below November's lows - IIFL

Indian markets ended lower on Tuesday amidst lack of follow up buying after a positive start which failed to carry Nifty beyond 5,600. With Tuesday's decline, Nifty has broken below the November's lows and move below same could prolong the current downtrend to fill the earlier rising gap of 5,450 and 50% retracement of the entire rally in Nifty since June 2012.

Fresh shorts were seen in Sensex April future which added 315cont in open interest.

On option front, Sensex Apr 18,200 and 18,400 strike call has seen writing in yesterday trade, while put buying is seen in Apr 18,000 strike.

Source : Equity Bulls

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