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 Cement, Realty, Banking sectors. Nifty Aug Future closed at 17980.3 (up 6.25 points) at a premium of 23.85 pts to spot.
* FIIs were net sellers in Cash to the tune of 1706 Cr and were net sellers in index futures to the tune of 1652.03 Cr.
* India VIX decreased by 1.85% to close at 17.35 touching an intraday high of 18.44
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 18000, 17900 strike Puts and at 18000, 18100, 18300 strike Calls indicating market is likely to remain range during the day.
* Highest OI build-up is seen at 18000 strike Calls and 17900 strike Puts, to the tune of 18.52mn and 11.97mn 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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