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Summary

* Indian markets closed on a negative note where selling was mainly seen in Banking, Automobile, Metals sectors. Nifty Feb Future closed at 17677.25 (down 121.40 points) at a premium of 60.95 pts to spot.

* FIIs were net buyers in Cash to the tune of 1785.21 Cr and were net buyers in index futures to the tune of 796.86 Cr.

* India VIX decreased by 0.56% to close at 16.78 touching an intraday high of 18.54.

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 17500, 17300, 17200, 17000 strike Puts and at 17700, 17800, 17900, 18000 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 18.52mn and 13.30mn respectively.

Outlook on Nifty:

Index is likely to open on a negative note today and is likely to remain range bound during the day.

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