Index is likely to open on a flattish note today and is likely to remain sideways during the day - Nirmal Bang
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Summary
* Indian markets closed on a negative note where selling was mainly seen in Cement, Banking, Realty sectors. Nifty Feb Future closed at 17566.90 (down 273.20 points) at a premium of 12.60 pts to spot.
* FIIs were net sellers in Cash to the tune of 580 Cr and were net sellers in index futures to the tune of 2732.33 Cr.
* India VIX increased by 11.27% to close at 15.59 touching an intraday high of 15.92.
Open Interest in Nifty Options:
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen at 17800, 17700, 17600 strike Calls and at 17500, 17400 strike Puts indicating market is likely to remain sideways during in near term.
* Highest OI build-up is seen at 18000 strike Calls and 17000 strike Puts, to the tune of 20.87mn and 13.91mn respectively.
Outlook on Nifty:
Index is likely to open on a flattish note today and is likely to remain sideways during the day
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