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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Cement, Textile sectors. Nifty Feb Future closed at 17317.3 (down 43.30 points) at a discount of 4.85 pts to spot.

* FIIs were net sellers in Cash to the tune of 1891 Cr and were net buyers in index futures to the tune of 554.84 Cr.

* India VIX decreased by 0.09% to close at 20.59 touching an intraday high of 21.02.

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 17400, 17300, 17100, 17000 strike Puts and at 17400, 17500, 17600 strike Calls indicating market is likely to remain in the range of 17700 to 17100 in the near term.

* Highest OI build-up is seen at 17500 strike Call and 17000 strike Put, to the tune of 11.37mn and 12.76mn 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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