Index is likely to open on a negative note today and is likely to remain range-bound during the day
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Market Summary:
* Indian markets closed on a positive note where buying was mainly seen in Banking, Finance, Automobile sectors. Nifty May Future closed at 15144.80 (up 192.75 points) at a premium of 36.75 pts to spot.
* FIIs were net buyers in Cash to the tune of 618.49 Cr and were net buyers in index futures to the tune of 3076.02 Cr
* India VIX decreased by 1.87% to close at 19.24 touching an intraday high of 19.61.
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 15200, 15100, 15000 strike Puts and at 15200, 15300, 15500 strike Calls indicating market is likely to remain bullish in near term.
* Highest OI build-up is seen at 15500 strike Call and 14000 strike Put, to the tune of 6.72mn and 8.99mn respectively.
Outlook on Nifty:
Index is likely to open on a negative note today and is likely to remain range-bound during the day.
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