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Market Summary:

* Indian markets closed on a flat note where buying was mainly seen in Banking, Automobile, FMCG sectors. Nifty Aug Future closed at 17346.30 (down 32.00 points) at a premium of 0.85 pts to spot.

* FIIs were net buyers in Cash to the tune of 825.18 Cr and were net buyers in index futures to the tune of 2727.15 Cr.

* India VIX increased by 5.97% to close at 18.53 touching an intraday high of 18.76

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 17400, 17300, 17200 strike Puts and at 17300, 17400, 17500 strike Calls indicating sideways undertone in the market in the near term.

* Highest OI build-up is seen at 17500 strike Calls and 16500 strike Puts, to the tune of 10.66mn and 11.48mn respectively.

Outlook on Nifty:

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

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