Indian Markets succumb to selling pressure on Friday - IIFL

Markets succumbed to selling pressure on Friday after a disappointing Q4FY13 Infosys with Nifty violating the lower shadow of hammer placed at 5,540. Last week, Nifty broke the support of November lows and a move below the same could extent the current downtrend to 5,450 i.e. 50% retracement of the entire rally in Nifty since June 2012 and rising gap.

Sensex April future which shed 18525cont in open interest has seen unwinding.

On option front, Sensex Apr 18,600 strike call which shed 3795cont in open interest has seen some unwinding, while put buying was seen at Apr 18,200 strike which added 3120cont in open interest.

Source : Equity Bulls

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