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Summary

* Indian markets closed on a positive note w here buying w as mainly seen in Banking, Finance, Technology sectors. Nifty Mar Future closed at 17178.15 (up 130.85 points) at a premium of 78.10 pts to spot.

* FIIs w ere net sellers in Cash to the tune of 1766.53 Cr and w ere net sellers in index futures to the tune of 691.91 Cr.

* India VIX decreased by 8.94% to close at 14.77 touching an intraday high of 16.22

Open Interest in Nifty Options:

* The above second chart show s previous trading day’s change in Nifty options w here Addition in OI w ere seen at 17100 strike Puts w hile liquidation w as seen in 17000, 17100, 17200 strike Calls indicating that the index is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 17500 strike Calls and 17000 strike Puts, to the tune of 10.50mn and 17.74mn respectively.

Outlook on Nifty:

Index is likely to open on a gap down note today and is likely to remain rangebound during the day.

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