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Market Review:

* Indian markets closed on a positive note where buying was mainly seen in Banking, Metals, Pharma sectors. Nifty Feb Future closed at 17589.00 (up 227.05 points) at a premium of 12.15 pts to spot.

* FIIs were net sellers in Cash to the tune of 21.79 Cr and were net sellers in index futures to the tune of 414.70 Cr.

* India VIX decreased by 8.99% to close at 19.98 touching an intraday high of 22.07

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 17600, 17500, 17400, 17000 strike Puts and at 17600, 18000 strike Calls indicating market is likely to remain positive in the near term.

* Highest OI build-up is seen at 18000 strike Call and 17000 strike Put, to the tune of 11.65mn and 9.61mn 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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