Index is likely to open on a gap down note today and is likely to remain under selling during the day - Nirmal Bang
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/06/a16d38f17887d5398e80439626e0b885.jpg)
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Market Summary:
* Indian markets closed on a negative note where selling was mainly seen in Banking, Finance, Technology sectors. Nifty June Future closed at 16219.30 (down 256.10 points) at a discount of 17.55 pts to spot.
* FIIs were net sellers in Cash to the tune of 3973.95 Cr and were net sellers in index futures to the tune of 1728.56 Cr.
* India VIX increased by 2.27% to close at 19.58 touching an intraday high of 19.76.
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 16200, 16300, 16400 strike Calls while liquidation was seen in 16300, 16200, 16100, 16000 strike Puts indicating that the market is likely to remain under selling pressure in the near term.
* Highest OI build-up is seen at 16500 strike Calls and 16000 strike Puts, to the tune of 8.81mn and 9.86mn respectively.
Outlook on Nifty:
* Index is likely to open on a gap down note today and is likely to remain under selling during the day.
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