Index is likely to open on a flattish note today and is likely to remain range bound during the day - Nirmal Bang
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Market Summary:
* Indian markets closed on a positive note where buying was mainly seen in Chemical, Metals, Pharma sectors. Nifty May Future closed at 14679.1 (up 129.80 points) at a premium of 61.25 pts to spot.
* FIIs were net sellers in Cash to the tune of 1111 Cr and were net buyers in index futures to the tune of 9.62 Cr.
* India VIX decreased by 4.55% to close at 21.96 touching an intraday high of 23.19.
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 14600, 14500, 14400 strike Puts and at 15000, 14700, 14600 strike Calls indicating market is likely to remain range bound in the near term.
* Highest OI build-up is seen at 15000 strike Call and 14000 strike Put, to the tune of 10.68mn and 10.03mn respectively
Outlook on Nifty:
* Index is likely to open on a flattish note today and is likely to remain range bound during the day.
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