India VIX decreases by 0.41% to close at 27.68 - Nirmal Bang

The Indian Markets gained 2% in a bounce back rally yesterday. Improved global cues together with sharp recovery in rupee from the all time low level of 65.56 set the positive momentum in the markets. Metal stocks lead the pullback rally on account of better than expected Chinese PMI data.

FIIs were net sellers in cash as well as in index Future to the tune of 1277.6 Cr & 772.0 Cr respectively.

India VIX has decreased by 0.41% to close at 27.68 touching an intra-day high of 29.86.

Significant addition in put OI build up at the levels such as 5200, 5300 & 5400 indicates some trend reversal in the markets.

The Nifty Future is expected to sustain above the 5400 level in August series expiry. Highest OI build-up is seen at 5600 Call and 5300 strike Put, to the tune of 8.49 and 10.73 mn respectively.

Markets are likely to open on a flat to positive note following the positive global cues and can advance further later during the day.

Source : Equity Bulls

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