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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Technology, Finance sectors. Nifty Feb Future closed at 17547.10 (down 248.80 points) at a premium of 13.10 pts to spot.

* FIIs were net sellers in Cash to the tune of 1597.54 Cr and were net sellers in index futures to the tune of 1185.00 Cr.

* India VIX increased by 2.73% to close at 19.16 touching an intraday high of 19.60.

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 17400 strike Puts and at 17600, 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 13.67mn and 10.74mn 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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