Highest open interest build up at 5900 & 6000 levels in Nifty - Nirmal Bang

Indian Markets started the week on positive note on yesterday. Consumer Durable & Realty stocks provided firm support to the markets. Hindustan Unilever was the one of the top gainer on Monday. As the company has reported better than expected result for the fourth quarter.

Nifty Future closed half a percent in green at 5918.20 (up 30.45pts) adding OI to the tune of 0.88mn making a total OI pool of 17.05mn.

FIIs were net buyers in cash as well as in Index Future to the tune of Rs 620.4Cr & 7.4Cr respectively. India VIX increased by 3.24% to close at days high 14.33 touching an intra-day high of 14.68.

Additions in put OI build up at 5900 & 6000 level together with highest put OI build up at that level suggest limited downside for the Nifty Future. But the monetary policy outcome on May 3rd is expected to provide further direction to the markets.

Highest OI build-up is seen at 6000 Call and 5800 strike Put, to the tune of 5.38 mn and 6.56 mn respectively.

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

Source : Equity Bulls

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