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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Metals, Banking, Finance sectors. Nifty Sep Future closed at 17386.60 (down 216.50 points) at a discount of 10.25 pts to spot.

* FIIs were net buyers in Cash to the tune of 92.54 Cr and were net sellers in index futures to the tune of 2560.13 Cr.

* India VIX increased by 14.83% to close at 17.47 touching an intraday high of 17.81.

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Additions in OI were seen in 17400, 17300, 17200 strike Puts and at 17400, 17500, 17700, 17800 strike Calls indicating market is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 18000 strike Call and 17000 strike Put, to the tune of 9.41mn and 9.43mn 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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