Indian Markets erased Wednesday's losses - Nirmal Bang

Indian markets erased Wednesday's losses to end up more than 1% yesterday. The markets remain volatile on account of volatility in currency markets. Realty & IT index ended up more than 2% on Thursday.

The Nifty Future ended up (72.25 pts) 1.25% at 5,840.10 with addition in OI to the tune of 0.37 mn.

FIIs were net buyers in cash as well as in Index Future to the tune of Rs 164.6 Cr & Rs 18.1 Cr respectively.

India VIX decreased by 1.74% to close at 18.58 touching an intra-day high of 19.00.

Addition in put OI build up at 5800 level suggests trend reversal in the markets. Though the downside for the markets is expected to be limited, we suggest a cautious approach with PCR OI heading towards 1.20 levels.

Highest OI build-up is seen at 6000 Call and 5600 strike Put, to the tune of 6.99 mn and 8.30 mn respectively.

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

Source : Equity Bulls

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