Indian Markets ended in red on account of weak global cues and profit booking - Nirmal Bang

Indian Markets ended in red today on account of weak global cues and profit booking. Auto & Realty stocks weighed on the markets today. IT stocks provided some support to the markets on account of weak rupee.

Nifty Future closed down 0.78% yesterday at 6,164.85 (down 31.25 pts) adding OI to the tune of 0.27 mn.

FIIs were net buyers in cash as well as in index future to the tune of 679.4 mn & 384.7 mn respectively.

India VIX increased by 0.95% to close at 17.88 touching an intra-day high of 18.20.

The bearish indication is visible in the markets with call OI build up at 6100, 6200 & 6300 level. Shifting of put OI build up at lower strikes also indicates the probability of downside in the markets.

Highest OI build-up is seen at 6200 Call and 6000 strike Put, to the tune of 9.05 mn and 9.92 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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