Index is likely to open on a flat note today and is likely to remain cautious during the day - Nirmal Bang
Summary
* Indian markets closed on a negative note where selling was mainly seen in Banking, Realty, Textile sectors. Nifty Feb Future closed at 17862.65 (down 88.35 points) at a premium of 18.05 pts to spot.
* FIIs were net sellers in Cash to the tune of 159 Cr and were net sellers in index futures to the tune of 689.24 Cr.
* India VIX increased by 2.27% to close at 13.28 touching an intraday high of 13.71.
Open Interest in Nifty Options:
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen at 18000, 17900, 17800 strike Calls and at 17700, 17600, 17500 strike Puts indicating market is likely to remain cautious in near term.
* Highest OI build-up is seen at 18000 strike Calls and 17500 strike Puts, to the tune of 19.48mn and 10.80mn respectively.
Outlook on Nifty:
Index is likely to open on a flat note today and is likely to remain cautious during the day.
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