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Market Summary:

* Indian markets closed on a positive note where buying was mainly seen in Banking, Automobile, Textile sectors. Nifty Feb Future closed at 17617.6 (up 137.50 points) at a premium of 63.55 pts to spot.

* FIIs were net sellers in Cash to the tune of 1733 Cr and were net buyers in index futures to the tune of 2276.10 Cr.

* India VIX decreased by 4.55% to close at 17.71 touching an intraday high of 18.93.

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 17300, 17500 strike Puts while liquidation was seen at 17400, 17500 strike Calls indicating market is likely to remain range bound during the day.

* Highest OI build-up is seen at 17500 strike Call and 17000 strike Put, to the tune of 4.75mn and 11.22mn respectively.

Outlook on Nifty:

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

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