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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Automobile, Technology sectors. Nifty Feb Future closed at 14672.60 (down 314.35 points) at a discount of 3.05 pts to spot.

* FIIs were net sellers in Cash to the tune of 893.25 Cr and were net buyers in index futures to the tune of 749.46 Cr.

* India VIX increased by 14.47% to close at 25.47 touching an intraday high of 25.82.

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 14700, 14800, 14900, 15000 strike Calls and at 14500, 14600 strike Puts indicating market is likely to show recovery during the day

* Highest OI build-up is seen at 15000 strike Call and 14500 strike Put, to the tune of 6.42mn and 5.21mn respectively.

Outlook on Nifty:

* Index is likely to open on a gap up note today and is likely to remain positive during the day

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