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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Finance, Technology sectors. Nifty June Future closed at 16429.20 (down 152.00 points) at a premium of 12.90 pts to spot.

* FIIs were net sellers in Cash to the tune of 2293.98 Cr and were net sellers in index futures to the tune of 2407.15 Cr.

* India VIX increased by 1.10% to close at 20.43 touching an intraday high of 21.07.

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 16400, 16000 strike Puts and at 16400, 16500, 16600, 17000 strike Calls indicating that the market is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 17000 strike Calls and 16000 strike Puts, to the tune of 12.61mn and 10.87mn 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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