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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Metals, IT, Pharma sectors. Nifty Sep Future closed at 17592.4 (down 235.10 points) at a premium of 49.60 pts to spot.

* FIIs were net sellers in Cash to the tune of 2290 Cr and were net sellers in index futures to the tune of 4189.26 Cr.

* India VIX increased by 6.27% to close at 19.87 touching an intraday high of 20.99.

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 17500, 17200 strike Puts and at 17800, 17600, 17500 strike Calls indicating market is likely to remain range bound in the near term.

* Highest OI build-up is seen at 18000 strike Calls and 17000 strike Puts, to the tune of 13.78mn and 13.31mn respectively.

Outlook on Nifty:

* Index is likely to open on a flattish note today and is likely to remain range-bound during the day.

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