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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in IT, Telecom, Power sectors. Nifty Sep Future closed at 16814.0 (down 44.70 points) at a discount of 4.10 pts to spot.

* FIIs were net sellers in Cash to the tune of 3599 Cr and were net sellers in index futures to the tune of 1007.46 Cr.

* India VIX decreased by 3.58% to close at 21.30 touching an intraday high of 22.29

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen 17000, 16900, 16800 strike Calls and at 16800, 16700 strike Puts indicating market is likely to remain range bound during the day.

* Highest OI build-up is seen at 17000 strike Calls and 16800 strike Puts, to the tune of 15.85mn and 9.90mn 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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