Index is likely to open on a negative note today and is likely to remain range bound during the day - Nirmal Bang
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/10/515dce9cce89804831b47163de77de71.jpg)
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Market Summary:
* Indian markets closed on a positive note where buying was mainly seen in Banking, Finance, Metals sectors. Nifty Oct Future closed at 17103.20 (up 289.20 points) at a premium of 8.85 pts to spot.
* FIIs were net sellers in Cash to the tune of 1565.31 Cr and were net buyers in index futures to the tune of 755.99 Cr.
* India VIX decreased by 6.26% to close at 19.97 touching an intraday high of 21.99.
Open Interest in Nifty Options:
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen 17100, 17000, 16900, 16800, 16500 strike Puts and at 17100, 17200, 17300, 17500 strike Calls indicating market is likely to remain range bound in the near term.
* Highest OI build-up is seen at 17500 strike Calls and 17000 strike Puts, to the tune of 7.40mn and 9.03mn respectively.
Outlook on Nifty:
* Index is likely to open on a negative note today and is likely to remain range bound during the day.
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