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Market Summary:

*Indian markets closed on a negative note where selling was mainly seen in Automobile, Technology, FMCG sectors. Nifty March Future closed at 14334.10 (down 221.20 points) at a premium of 9.20 pts to spot.

*FIIs were net sellers in Cash to the tune of 3383.60 Cr and were net buyers in index futures to the tune of 960.34 Cr.

*India VIX increased by 1.07% to close at 22.70 touching an intraday high of 23.31.

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 14300, 14400, 14500 strike Calls while liquidation was seen at 14400, 14500, 14600 strike Puts indicating bearish undertone in the market in the near term.

*strike Puts indicating bearish undertone in the market in the near term.  Highest OI build-up is seen at 15000 strike Call and 14000 strike Put, to the tune of 8.27mn and 10.73mn respectively.

Outlook on Nifty:

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

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