Index is likely to open on a negative note today and is likely to remain rangebound during the day - Nirmal Bang
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Summary
* Indian markets closed on a negative note where selling was mainly seen in Automobile, Metals, Banking sectors. Nifty Dec Future closed at 18275.90 (down 105.55 points) at a premium of 43.00 pts to spot.
* FIIs were net buyers in Cash to the tune of 928.63 Cr and were net sellers in index futures to the tune of 650.59 Cr.
* India VIX decreased by 2.40% to close at 15.19 touching an intraday high of 16.30.
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 18100 strike Puts and at 18100, 18200 strike Calls indicating market is likely to remain range-bound in the near term.
* Highest OI build-up is seen at 18500 strike Calls and 18000 strike Puts, to the tune of 16.48mn and 15.29mn respectively.
Outlook on Nifty:
Index is likely to open on a negative note today and is likely to remain rangebound during the day.
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