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Published on 21/09/2020 9:44:31 AM | Source: Nirmal Bang Ltd

Index is likely to open on a negative note today By Nirmal Bang

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

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Market Summary:

* Indian markets closed on a flat note where selling was mainly seen in Banking, Finance, FMCG sectors. Nifty Sep Future closed at 11515.20 (down 7.15 points) at a premium of 10.30 pts to spot.

* FIIs were net sellers in Cash to the tune of 100.83 Cr and were net buyers in index futures to the tune of 1900.03 Cr.

* India VIX decreased by 0.82% to close at 20.05 touching an intraday high of 20.77.

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 12000 strike Calls while liquidation was seen in 11500, 11400, 11300 strike Puts indicating markets likely to remain under selling pressure in the near term.

* Highest OI build-up is seen at 12000 strike Call and 11000 strike Put, to the tune of 6.46mn and 6.18mn respectively.

 

Outlook on Nifty:

Index is likely to open on a negative note today and is likely to remain under selling pressure during the day.

 

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