Index is likely to open on a positive note today and is likely to remain range bound during the day - Nirmal Bang
Market Summary:
* Indian markets closed on a flat note where selling was mainly seen in Metals, Pharma, Automobile sectors. Nifty May Future closed at 14714.90 (up 4.90 points) at a premium of 37.15 pts to spot.
* FIIs were net sellers in Cash to the tune of 2607.85 Cr and were net buyers in index futures to the tune of 625.21 Cr.
* India VIX increased by 0.93% to close at 20.27 touching an intraday high of 21.15
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 14600, 15300, 15500 strike Calls while liquidation 14700, 14800, 14900 strike Puts indicating market is likely to remain range bound in near term.
* Highest OI build-up is seen at 15000 strike Call and 14000 strike Put, to the tune of 7.37mn and 7.22mn respectively.
Outlook on Nifty:
* Index is likely to open on a positive note today and is likely to remain range bound during the day.
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