FIIs were net sellers in cash - Nirmal Bang

The Indian markets gained a momentum to touch day's high point in early noon trade on Monday. But the markets failed to sustain the gains as the LT weighed on the markets. The LT lost more than 7% yesterday on account of its quarterly result. Larsen & Turbo reported a net profit of Rs 756 crore for the Q1 FY14. The company's profit declined 12% as compared to Q1 FY13.

FIIs were net sellers in cash to the tune of 252.3 Cr whereas they bought Index Futures worth 713.5Cr respectively.

India VIX decreased by 2.76% to close at 17.63 touching an intra-day high of 18.61.

Continuous shifting of put OI build up at 6000 level suggest strong bullish undertone in the markets. The July Nifty Future is expected to expire above 6000 level on coming Thursday.

Highest OI build-up is seen at 6000 Call and 5900 strike Put, to the tune of 8.05 and 11.65 mn respectively.

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

Source : Equity Bulls

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