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Summary

* Indian markets closed on a flat note where buying was mainly seen in Banking, FMCG, Technology sectors. Nifty Feb Future closed at 17685.25 (up 8.00 points) at a premium of 74.85 pts to spot.

* FIIs were net sellers in Cash to the tune of 3065.35 Cr and were net buyers in index futures to the tune of 2464.10 Cr.

* India VIX decreased by 6.24% to close at 15.73 touching an intraday high of 17.77.

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 17600, 17500, 17400 strike Puts and at 17600, 17700, 17800 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 16.73mn and 15.41mn 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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