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Published on 2/08/2021 9:23:22 AM | Source: Nirmal Bang Ltd

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

Posted in Market Outlook| #Nirmal Bang Ltd #Market Outlook

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Market Summary:

* Indian markets closed on a flattish note where buying was mainly seen in Chemical, Auto, Pharma sectors. Nifty July Future closed at 15777.2 (down 3.80 points) at a premium of 14.20 pts to spot.

* FIIs were net sellers in Cash to the tune of 3848 Cr and were net sellers in index futures to the tune of 1884.46 Cr.

* India VIX decreased by 1.10% to close at 12.80 touching an intraday high of 13.32.

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 16000, 15900, 15800 strike Calls and at 15800, 15700, 15500 strike Puts indicating market likely to remain range bound in near term.

* Highest OI build-up is seen at 16000 strike Call and 15000 strike Put, to the tune of 7.11mn and 7.80mn 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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