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Overall volumes in futures & options currently stand at 3.28 crore contracts with a turnover of Rs. 21,63,258.86 crore.

Overall volumes in futures & options currently stand at 3.28 crore contracts with a turnover of Rs. 21,63,258.86 crore.

The bulls need to protect Tuesday’s session gap area of 11,705-11,732. On the higher side, the level of 11,800 is likely to act as a point of control and above this level, the bulls are likely to continue the rally. However, if it does not move above the 11,800 level, we expect some consolidation and some back and forth movement. Stocks in news: Avantel, Shilpa Medicare, Gravita India, The Shipping Corporation of India, Trigyn Technologies, Asian Granito.

The Indian equity markets will re-open after a long weekend and markets will first react to earnings of index bigwigs such as Reliance Industries and HDFC Bank.  While there are no clear cues from the global peers, we expect markets to begin on muted note as, at the time of writing, SGX Nifty was trading down by 9 points at 11,799.