Index is likely to open on a flat today and is likely to remain positive during the day - Nirmal Bang
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Market Summary:
* Indian markets closed on a positive note where buying was mainly seen in Banking, Automobile, Technology sectors. Nifty Sep Future closed at 17866.40 (up 42.10 points) at a premium of 33.10 pts to spot.
* FIIs were net buyers in Cash to the tune of 2132.42 Cr and were net sellers in index futures to the tune of 125.36 Cr.
* India VIX decreased by 3.20% to close at 17.72 touching an intraday high of 18.51.
Open Interest in Nifty Options:
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen 17900, 18000 strike Puts while liquidation was seen at 17700, 17800, 17900, 18000 strike Calls indicating bullish undertone in the market in the near term.
* Highest OI build-up is seen at 18000 strike Calls and 17000 strike Puts, to the tune of 10.94mn and 13.28mn respectively.
Outlook on Nifty:
* Index is likely to open on a flat today and is likely to remain positive during the day.
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