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Market Summary:

*Indian markets closed on a negative note where selling was mainly seen in Banking, Pharma, Finance sectors. Nifty March Future closed at 14968.70 (down 82.65 points) at a premium of 39.25 pts to spot.

*FIIs were net sellers in Cash to the tune of 1101.35 Cr and were net sellers in index futures to the tune of 497.13 Cr.

*India VIX decreased by 2.21% to close at 21.23 touching an intraday high of 22.93.

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 14800, 14600, 14500 strike Puts and at 14800, 14900, 15000, 15100 strike Calls indicating that the index is likely to remain range-bound in the near term

*Highest OI build-up is seen at 15500 strike Call and 14500 strike Put, to the tune of 6.65mn and 6.01mn 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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