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Market Review:

* Indian markets closed on a positive note where buying was mainly seen in Banking, Chemicals, Metals sectors. Nifty Jan Future closed at 18241.2 (up 157.65 points) at a premium of 28.85 pts to spot.

* FIIs were net sellers in Cash to the tune of 1002 Cr and were net buyers in index futures to the tune of 142.25 Cr.

* India VIX decreased by 3.23% to close at 17.18 touching an intraday high of 17.93.

Nifty Technical Outlook

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 18200, 18100, 18000 strike Puts while liquidation was seen at 18100, 18000 strike Calls indicating market is likely to remain positive in the near term.

* Highest OI build-up is seen at 18500 strike Call and 18000 strike Put, to the tune of 9.86mn and 9.19mn respectively.

Outlook on Nifty:

Index is likely to open on a positive note today and is likely to remain positive during the day.

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