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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Automobile, Metals, Banking sectors. Nifty Jan Future closed at 13982.5 (down 270.60 points) at a premium of 15.05 pts to spot.

* FIIs were net sellers in Cash to the tune of 1688.2 Cr and were net sellers in index futures to the tune of 1327.57.87 Cr.

* India VIX increased by 4.93% to close at 24.39 touching an intraday high of 24.75

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 14400, 14200. 14300 strike Calls and at 14000, 13900 strike Puts indicating market is likely to remain under pressure during the day.

* Highest OI build-up is seen at 14500 strike Call and 14000 strike Put, to the tune of 6.90mn and 6.72mn respectively.

Outlook on Nifty:

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

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