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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Power, Telecom, Banking sectors. Nifty Aug Future closed at 17387.8(down 19.30 points) at a premium of 5.85 pts to spot.

* FIIs were net buyers in Cash to the tune of 1475 Cr and were net sellers in index futures to the tune of 829.85 Cr.

* India VIX increased by 4.37% to close at 19.26 touching an intraday high of 21.06.

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 17000, 16900 strike Puts and at 17400, 17500 strike Calls indicating market is likely to remain sidew ays in the near term.

* Highest OI build-up is seen at 17400 strike Calls and 17000 strike Puts, to the tune of 14.82mn and 14.64mn respectively

Outlook on Nifty:

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

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