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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Technology, Finance, Pharma sectors. Nifty Aug Future closed at 17531.50 (down 85.75 points) at a premium of 9.05 pts to spot.

* FIIs were net buyers in Cash to the tune of 369.06 Cr and were net sellers in index futures to the tune of 2010.98 Cr.

* India VIX increased by 6.18% to close at 19.57 touching an intraday high of 20.22

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 17800, 17700, 17300 strike Puts and at 17700, 17800, 17500 strike Calls indicating market is likely to remain range bound in the near term.

* Highest OI build-up is seen at 18000 strike Calls and 17000 strike Puts, to the tune of 15.05mn and 14.94mn respectively.

Outlook on Nifty:

* Index is likely to open on a positive note today and is likely to remain bullish during the day.

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