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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Finance, Metals sectors. Nifty Jan Future closed at 14380.10 (down 218.50 points) at a premium of 8.25 pts to spot.

* FIIs were net sellers in Cash to the tune of 635.69 Cr and were net sellers in index futures to the tune of 1471.29 Cr.

* India VIX increased by 1.09% to close at 22.42 touching an intraday high of 23.04.

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 14400, 14500 strike Calls while liquidation was seen in 14600, 14500, 14400, 14000 strike Puts indicating market is likely to remain range bound in the near term.

* Highest OI build-up is seen at 15000 strike Call and 14000 strike Put, to the tune of 6.69mn and 6.95mn 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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