Indian Markets end up more than 1% - Nirmal Bang

Indian markets rallied in yesterday's trading session to end up more than 1%. Buying interest was observed in IT stocks ahead of Infosys fourth quarter earnings on Friday. Nifty Futures closed over a percent in green at 5563.85 (up 63pts) adding OI to the tune of 0.95mn.

Overseas, Dow closed nearly a percent in green at 14,802.24 (up 128.78pts). The European markets also closed positive with FTSE, CAC & DAX up 1.16%, 1.95% & 2.22% respectively.

FIIs were net buyers in cash to the tune of 40.2Cr whereas they sold Index Futures worth 218.2Cr respectively.

India VIX decreased by 1.96% to close at days high 16.49 touching an intra-day high of 17.42.

Significant additions in put OI build up at 5400 & 5500 level suggest some optimism for the Nifty Future. The Nifty Future is expected to hover around 5600 level in the days to come.

Highest OI build-up is seen at 5700 Call and 5500 strike Put, to the tune of 9.96 mn and 9.12 mn respectively.

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

Source : Equity Bulls

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