Indian Markets remained under pressure on Wednesday - Nirmal Bang

Indian markets remained under pressure on Wednesday to end down 1.48%. Profit booking, negative global cues, increasing crude oil prices and the weakness in rupee weighed on the markets.

The Nifty Future ended down (91.20 pts) 1.56% at 5,767.85 with addition in OI to the tune of 0.29 mn.

FIIs were net sellers in cash as well as in Index Future to the tune of Rs 705.1Cr & Rs 705.7Cr respectively.

India VIX increased by 3.84% to close at 18.91 touching an intra-day high of 19.11.

Addition in call OI build up at 5800 as well as 5900 level suggests dominance of the Bears in the markets. But the downside for the markets is expected to be limited from the current level.

Highest OI build-up is seen at 6000 Call and 5600 strike Put, to the tune of 7.51 mn and 7.58 mn respectively.

Markets are likely to open half a percent in green following the positive global cues and likely to remain strong during the day.

Source : Equity Bulls

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