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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in FMCG, Realty, Technology sectors. Nifty June Future closed at 16581.20 (down 23.40 points) at a premium of 11.70 pts to spot.

* FIIs were net sellers in Cash to the tune of 2397.65 Cr and were net sellers in index futures to the tune of 417.65 Cr.

* India VIX increased by 1.13% to close at 20.20 touching an intraday high of 20.68.

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 16500, 16400, 16300, 16000 strike Puts and at 16500, 16600, 16700, 17000 strike Calls indicating bearish undertone in the market in the near term.

* Highest OI build-up is seen at 17000 strike Calls and 16000 strike Puts, to the tune of 10.49mn and 10.24mn respectively.

Outlook on Nifty:

* Index is likely to open on a negative note today and is likely to remain under selling pressure during the day.

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