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Market Summary:

* Indian markets closed on a positive note where buying was mainly seen in Banking, Automobile, Finance sectors. Nifty March Future closed at 17322.00 (up 313.30 points) at a premium of 35.00 pts to spot.

* FIIs were net buyers in Cash to the tune of 2800.14 Cr and were net buyers in index futures to the tune of 4303.71 Cr.

* India VIX decreased by 6.25% to close at 22.61 touching an intraday high of 24.12.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 17300, 17200, 17100, 17000 strike Puts and at 17300, 17400 strike Calls indicating market is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 17500 strike Calls and 16500 strike Puts, to the tune of 11.63mn and 12.33mn 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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