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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Realty, Metals sectors. Nifty July Future closed at 15637.2 (down 115.20 points) at a premium of 5.10 pts to spot.

* FIIs were net sellers in Cash to the tune of 2835 Cr and were net sellers in index futures to the tune of 1784.77 Cr.

* India VIX increased by 4.14% to close at 13.21 touching an intraday high of 14.09.

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 15500, 15000 strike Puts and 15800, 15700, 15500 strike Calls indicating market is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 16000 strike Call and 15000 strike Put, to the tune of 9.83mn and 9.78mn respectively.

Outlook on Nifty:

* Index is likely to open on a gap up note today and is likely to remain range-bound during the day.

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