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Market Summary:

* Indian markets closed on a positive note where buying was mainly seen in Capital-Goods, Cement, Metals sectors. Nifty March Future closed at 16794.2 (up 138.20 points) at a premium of 0.35 pts to spot.

* FIIs were net sellers in Cash to the tune of 3948 Cr and were net sellers in index futures to the tune of 732.88 Cr.

* India VIX increased by 6.84% to close at 28.57 touching an intraday high of 29.79.

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 16700, 16500 strike Puts and at 16500, 16800, 16900, 17000 strike Calls indicating market is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 17500 strike Call and 16500 strike Put, to the tune of 10.45mn and 10.58mn respectively.

Outlook on Nifty:

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

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