Indian Markets end near one month high - Nirmal Bang

Indian Markets ended near one month high level ahead of annual monetary policy review on May 3rd. Hindustan Unilever gained 17% on Tuesday after parent Unilever announced an open offer to buy 22% stake in the company at Rs 600.

Nifty Future closed marginally up at 5929 (up 10pts) adding OI to the tune of 0.41mn.

FIIs were net buyers in cash to the tune of 876.93Cr whereas they sold Index Future to the tune 27.6Cr respectively.

India VIX increased by 5.37% to close at days high 15.10 touching an intra-day high of 15.51.

Additions in put OI build up at 5900 & 5800 level together with highest put OI build up at that level suggest limited downside for the Nifty Future. But the monetary policy outcome on May 3rd is expected to provide further direction to the markets.

Highest OI build-up is seen at 6100 Call and 5800 strike Put, to the tune of 5.81mn and 7.50mn respectively.

Markets are likely to open on a negative note following the mix global cues and are likely to remain range bound during the day.

Source : Equity Bulls

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