Indian Markets experience profit booking on Monday - Nirmal Bang

On the back of touching 31 month high point on Friday, Indian markets experienced some profit booking on Monday. After trading in green throughout the day the markets dipped into red to end down 0.49%.

Nifty Future closed up 0.29% yesterday at 6,196.10 (up 18.05 pts) adding OI to the tune of 0.09 mn.

FIIs were net buyers in cash as well as Index Futures to the tune of 753.4Cr and 116.1Cr. respectively.

India VIX increased by 0.80% to close at 17.71 touching an intra-day high of 17.83.

Positive momentum of the markets is expeted to continue in the days to come as suggested by the Nifty option data. Shifting of the call OI build up from 6300 & 6200 to 6400 and shifting of highest put OI build up at 6100 level suggest the positive momentum inb the markets.

Highest OI build-up is seen at 6300 Call and 6100 strike Put, to the tune of 8.68 mn and 9.81 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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