Nifty Futures closed up 2.05% at 5941.35 - Nirmal Bang

Indian markets bounced back to gain almost 2% on Thursday. Equity markets all over the world rallied yesterday on account of enhanced hope regarding continuation of QE3.

The Nifty Future closed up 2.05 percent at 5,941.35 (up 119.30 pts) adding OI to the tune of 1.70 mn.

FIIs were net buyers in cash as well as Index Futures to the tune of 638.3Cr and 1536.2Cr respectively.

India VIX decreased by 5.45% to close at 18.89 touching an intra-day high of 19.28.

Addition in put OI build up at 5900 level as well as at 6000 suggest strong bullish undertone in the markets. Significant put OI build up at 5600, 5700 & 5800 level indicates limited downside for the markets from this level.

Highest OI build-up is seen at 6000 Call and 5600 strike Put, to the tune of 8.66 mn and 9.50 mn respectively.

Markets are likely to open nearly half a percent in green following the mix global cues and likely to remain range bound during the day.

Source : Equity Bulls

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