Nifty Futures adds 0.58 million to open interest - Nirmal Bang

Indian markets saw a range bound market on Thursday despite of heavy buying by the FIIs. Improved optimism regarding rate cut by the RBI is one of the reason for yesterday's rally.

Nifty Future closed marginally yesterday at 6178.05 (up 16.55pts) adding OI to the tune of 0.58 mn.

FIIs were net buyers in cash as well as in index future to the tune of 1070.3Cr & 62.2Cr respectively.

India VIX decreased marginally to close at 17.74 touching an intra-day high of 18.13.

Additions in put OI at 6100, 6200 and even at 6300 suggest strong bullish undertone in the markets but the PCR OI at 1.25 suggest limited upside for the markets from the current level.

Highest OI build-up is seen at 6200 Call and 6000 strike Put, to the tune of 8.62mn and 9.83mn 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

Keywords