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Market Summary:

* Indian markets closed on a positive note where buying was mainly seen in Telecom, FMCG, Pharma sectors. Nifty June Future closed at 16475.4 (up 110.65 points) at a discount of 2.65 pts to spot.

* FIIs were net sellers in Cash to the tune of 1513 Cr and were net sellers in index futures to the tune of 871.66 Cr.

* India VIX decreased by 3.51% to close at 19.14 touching an intraday high of 19.84.

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 16500, 16400, 16300 strike Puts and at 16600 strike Calls indicating that the market is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 16500 strike Calls and 16000 strike Puts, to the tune of 17.04mn and 14.36mn 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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