Indian Markets continue bounce back rally - Nirmal Bang

The Indian Markets continued the bounce back rally to end the week on positive note on Friday. BHEL, TECHM & YES BANK were the major gainers on Friday mainly due to short covering.

FIIs were net sellers in cash as well as in index Future to the tune of 148.6 Cr & 662.4 Cr respectively.

India VIX has decreased by 6.97% to close at 25.75 touching an intra-day high of 27.82.

Significant addition in put OI build up at 5400 indicates some trend reversal in the markets.

The Nifty Future is expected to expire 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 10.24 and 10.99 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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