Indian Markets end on Negative Note - Nirmal Bang

The Indian markets ended on negative note on the day of January series expiry today. Profit booking and negative global cues are the major reason for today's losses.

Overseas, Dow closed in red yesterday at 13,860.58 (down 49.84 pts). The European markets also closed in red with FTSE, CAC & DAX down 0.74%, 0.88% & 0.45% respectively.

FIIs were net buyers in cash to the tune of 958.9 Cr whereas they sold in Index Futures to the tune of 458.3 Cr.

India VIX decreased by 1.74% to close at 14.13, touching an intra-day high of 14.70.

February Nifty Future is expected to take immediate support at 6000 level. The downside for the market is expected to be very limited in the next expiry as the overall trend remains positive.

Highest OI build-up is seen at 6200 Call and 5800 strike Put, to the tune of 5.14 mn and 5.42 mn respectively.

Markets are likely to open flat with negative bias today and are expected to remain range bound throughout the day as there is no fresh trigger for the market.

Source : Equity Bulls

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