Index is likely to open on a positive today and is likely to remain positive during the day - Nirmal Bang
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Summary
* Indian markets closed on a positive note where buying was mainly seen in Banking, Automobile, Metals sectors. Nifty Sep Future closed at 19512.10 (up 260.10 points) at a premium of 76.80 pts to spot.
* FIIs were net buyers in Cash to the tune of 487.94 Cr and were net buyers in index futures to the tune of 98.54 Cr.
* India VIX decreased by 5.78% to close at 11.37 touching an intraday high of 12.18.
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 19300, 19400, 19500 strike Puts and at 19700 strike Calls indicating that the market is likely to remain bullish in the near term.
* Highest OI build-up is seen at 20000 strike Calls and 19000 strike Puts, to the tune of 9.83mn and 15.39mn respectively
Outlook on Nifty:
Index is likely to open on a positive today and is likely to remain positive during the day.
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