Indian markets end in red as Government lowers GDP forecast - Nirmal Bang

The Indian markets ended in red on Thursday as the government lowers GDP forecast. The investor's sentiments were dampened yesterday after India's economic growth rate this fiscal is estimated to be sharply lower at 5%. This will be the lowest GDP growth rate in a decade for India.

Overseas, Dow closed flat yesterday at 13,944.05 (down 42.47 pts). The European markets also closed mixed with FTSE, CAC down 1.07% & 1.16% respectively, whereas DAX closed up 0.13%.

FIIs were net buyers in cash to the tune of 827.1 Cr whereas they sold in Index Futures to the tune of 105.2 Cr.

India VIX increased by 4.42% to close at 14.89, touching an intra-day high of 14.67.

Addition in call OI build up at 6000, 6100 & 6200 together with put OI build up at 5900 suggest bearish undertone in the markets. But along with that put OI build up at 5700 & 5800 level suggest limited down side for the Nifty Future.

Highest OI build-up is seen at 6100 Call and 5800 strike Put, to the tune of 9.05 mn and 8.55 mn respectively.

Markets are likely to open flat today on account of mixed global cues. The market is expected to remain range bound throughout the day.

Source : Equity Bulls

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