Index is likely to open on a negative note today and is likely to remain under pressure during the day - Nirmal Bang
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Market Summary:
* Indian markets closed on a negative note where selling was mainly seen in Cement, IT, Metals sectors. Nifty Dec Future closed at 18467 (down 281.90 points) at a premium of 52.10 pts to spot.
* FIIs were net sellers in Cash to the tune of 711 Cr and were net sellers in index futures to the tune of 1934.63 Cr.
* India VIX increased by 6.57% to close at 13.73 touching an intraday high of 13.88
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 18400, 18300, 18200 strike Puts and at 18600, 18500, 18400 strike Calls indicating market bearish undertone in the market during the day during the day.
* Highest OI build-up is seen at 19000 strike Calls and 18400 strike Puts, to the tune of 17.02mn and 15.77mn respectively.
Outlook on Nifty:
* Index is likely to open on a negative note today and is likely to remain under pressure during the day.
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