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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Automobile, Technology, Pharma sectors. Nifty Feb Future closed at 17278.00 (down 12.15 points) at a premium of 1.75 pts to spot.

* FIIs were net sellers in Cash to the tune of 2529.96 Cr and were net buyers in index futures to the tune of 729.16 Cr.

* India VIX increased by 0.72% to close at 22.17 touching an intraday high of 23.21.

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 17400, 17300, 17200 strike Puts and at 17400, 17500, 17600 strike Calls indicating market is likely to remain in the range-bound in the near term.

* Highest OI build-up is seen at 18000 strike Call and 17000 strike Put, to the tune of 9.51mn and 9.28mn 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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