Indian Markets end down 0.40% - Nirmal Bang

Indian markets ended down 0.40% yesterday on account of weakness in Indian rupee. The rupee touched an all-time low of 60.76 a dollar on Wednesday. The rupee has depreciated more than 11% in last two months.

Nifty Futures closed nearly half a% lower yesterday deleting OI to the tune of 0.35mn.

FIIs were net sellers in cash to the tune of Rs 547.8Cr whereas they bought Index Futures worth Rs 57.3Cr respectively.

India VIX decreased by 0.07% to close at 21.07 touching an intra-day high of 21.22.

Significant addition in call OI build up at 5700 level as well as at 5600 level suggest strong bearish undertone in the markets. But Nifty Future is expected to get support at the current level. The downside for the markets is expected to be limited.

Highest OI build-up is seen at 5700 Call and 5500 strike Put, to the tune of 13.56 mn and 12.16 mn respectively.

Markets are likely to open over a% in green following the positive global cues and likely to remain strong during the day.

Source : Equity Bulls

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