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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Automobile, Finance, Banking sectors. Nifty March Future closed at 15872.20 (down 386.75 points) at a premium of 9.05 pts to spot.

* FIIs were net sellers in Cash to the tune of 7482.08 Cr and were net sellers in index futures to the tune of 1762.15 Cr.

* India VIX increased by 4.90% to close at 29.33 touching an intraday high of 30.28.

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 15800, 15900, 16000 strike Calls and at 15600, 15700, 15800 strike Puts indicating market is likely to remain bearish in the near term.

* Highest OI build-up is seen at 16500 strike Calls and 16000 strike Puts, to the tune of 7.09mn and 6.67mn respectively.

Outlook on Nifty:

Index is likely to open on a negative today and is likely to remain bullish during the day.

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