Indian Markets succumb to continued selling - IIFL

Markets succumbed to selling pressure on Monday after Nifty violated monthly trendline support of 5,450 levels. A weekly close below 5,450 will confirm a breakdown of trading range of 5,500-6,100, thus projecting an immediate target of 5,200 levels. Hence forth any pull back is likely to remain short lived and any rallies could be capped towards 5,650 levels.

Sensex August future which shed 240cont in open interest has seen unwinding.

On option front, BSE100 August 5,500 strike call which added 14000cont in open interest in has seen writing in yesterday trade, while put unwinding was seen at BSE100 August 5,400 which shed 15700cont in open interest.

Source : Equity Bulls

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