Index is likely to open on a negative note today and is likely to remain range bound during the day - Nirmal Bang
Summary
* Indian markets closed on a flat note where buying was mainly seen in FMCG, Automobile, Pharma sectors. Nifty Jul Future closed at 19466.85 (up 8.45 points) at a premium of 68.35 pts to spot.
* FIIs were net buyers in Cash to the tune 1603.15 Cr and were net buyers in index futures to the tune of 462.71 Cr.
* India VIX increased by 1.55% to close at 11.88 touching an intraday high of 12.21.
Open Interest in Nifty Options:
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen at 19500, 19400, 19300, 19200 strike Puts and at 19800, 19700, 19600, 19500 strike Calls indicating that the market is likely to positive in the near term.
* Highest OI build-up is seen at 19500 strike Calls and 19000 strike Puts, to the tune of 18.47mn and 20.59mn 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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