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Summary

* Indian markets closed on a negative note where selling was mainly seen in Banking, Finance, Metals sectors. Nifty Mar Future closed at 16955.05 (down 132.45 points) at a premium of 10.00 pts to spot.

* FIIs were net sellers in Cash to the tune of 1720.44 Cr and were net buyers in index futures to the tune of 213.94 Cr.

* India VIX increased by 5.17% to close at 15.24 touching an intraday high of 15.43.

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 17000, 16900 strike Calls while liquidation was seen in 17000, 17100, 17200 strike Puts indicating that the index is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 17100 strike Calls and 17000 strike Puts, to the tune of 10.59mn and 12.61mn respectively.

Outlook on Nifty:

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

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