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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Automobile, Metals sectors. Nifty March Future closed at 14953.00 (down 153.20 points) at a premium of 14.95 pts to spot.

* FIIs were net sellers in Cash to the tune of 2014.16 Cr and were net buyers in index futures to the tune of 67.73 Cr.

* India VIX increased by 5.83% to close at 25.56 touching an intraday high of 26.41.

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 14900, 15000, 15500 strike Calls and at 14600, 14500 strike Puts indicating negative bias in the near term.

* Highest OI build-up is seen at 15500 strike Call and 14500 strike Put, to the tune of 5.98mn and 5.77mn 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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