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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 15766.20 (down 453.10 points) at a discount of 8.15 pts to spot.

* FIIs were net sellers in Cash to the tune of 4164.01 Cr and were net sellers in index futures to the tune of 1799.27 Cr.

* India VIX increased by 14.25% to close at 22.37 touching an intraday high of 22.80.

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 15700, 15800, 15900, 16000 strike Calls and at 15800, 15700, 15600, 15500 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 15500 strike Puts, to the tune of 12.40mn and 9.42mn 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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