Index is likely to open on a flattish today and is likely to remain cautious during the day - Nirmal Bang
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Market Summary:
* Indian markets closed on a negative note where selling was mainly seen in FMCG, Pharma, IT sectors. Nifty Sep Future closed at 17891.8 (down 128.60 points) at a premium of 14.40 pts to spot.
* FIIs were net sellers in Cash to the tune of 1271 Cr and were net sellers in index futures to the tune of 943.94 Cr.
* India VIX increased by 0.62% to close at 18.39 touching an intraday high of 19.22
Open Interest in Nifty Options:
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen 18000, 17900, 17800 strike Calls while liquidation was seen at 18000, 17900, 17800 strike Puts indicating market is likely to remain cautious during the day.
* Highest OI build-up is seen at 18000 strike Calls and 17500 strike Puts, to the tune of 14.57mn and 12.01mn respectively.
Outlook on Nifty:
* Index is likely to open on a flattish today and is likely to remain cautious during the day.
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