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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Pharma, Realty, IT sectors. Nifty June Future closed at 16508.1 (down 69.50 points) at a discount of 14.65 pts to spot.

* FIIs were net sellers in Cash to the tune of 1930 Cr and were net sellers in index futures to the tune of 1276.11 Cr.

* India VIX increased by 1.79% to close at 20.85 touching an intraday high of 21.34.

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 16300, 16200, 16000 strike Puts and at 16600, 16800, 16900, 17000 strike Calls indicating that the index is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 17000 strike Calls and 16000 strike Puts, to the tune of 21.05mn and 13.58mn 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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