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Market Summary:

* Indian markets closed on a flat note where selling was mainly seen in FMCG, Technology, Metals sectors. Nifty Oct Future closed at 17328.80 (up 3.40 points) at a premium of 14.20 pts to spot.

* FIIs were net sellers in Cash to the tune of 2250.77 Cr and were net sellers in index futures to the tune of 46.61 Cr.

* India VIX decreased by 2.60% to close at 18.81 touching an intraday high of 19.73.

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen 17400, 17300, 17000 strike Puts and at 17400, 17500 strike Calls indicating that the index is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 17500 strike Calls and 17000 strike Puts, to the tune of 9.52mn and 10.39mn respectively.

Outlook on Nifty:

* Index is likely to open on a negative note today and is likely to remain under selling pressure during the day.

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