Index is likely to open on a gap down 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 negative note where selling was mainly seen in Banking, Realty, Finance sectors. Nifty April Future closed at 18017.5 (down 80.70 points) at a premium of 60.10 pts to spot.
* FIIs were net buyers in Cash to the tune of 375 Cr and were net sellers in index futures to the tune of 357.99 Cr.
* India VIX increased by 3.23% to close at 18.49 touching an intraday high of 18.83.
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 18100, 18000, 17800, 17700 strike Puts and at 18200, 18100, 18000 strike Calls indicating market is likely to remain range bound during the day.
* Highest OI build-up is seen at 18000 strike Calls and 18000 strike Puts, to the tune of 11.00mn and 9.85mn respectively.
Outlook on Nifty:
Index is likely to open on a gap down note today and is likely to remain range bound during the day.
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