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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Auto, Metals, Banking sectors. Nifty Aug Future closed at 16595.8 (up 36.40 points) at a discount of 18.75 pts to spot.

* FIIs were net sellers in Cash to the tune of 595 Cr and were net sellers in index futures to the tune of 41.40 Cr.

* India VIX decreased by 3.78% to close at 12.91 touching an intraday high of 13.41

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Additions in OI were seen in 17000, 16900, 16700, 16600 strike Calls while liquidation was seen at 16600, 16500, 16400 strike Puts indicating negative undertone in the market during the day.

* Highest OI build-up is seen at 16600 strike Call and 16500 strike Put, to the tune of 9.31mn and 10.37mn respectively.

Outlook on Nifty:

* Index is likely to open on a gap down note today and is likely to remain cautious during the day.

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