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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Metals, Realty sectors. Nifty Sep Future closed at 17028.7 (down 307.10 points) at a premium of 12.45 pts to spot.

* FIIs were net sellers in Cash to the tune of 5101 Cr and were net buyers in index futures to the tune of 941.47 Cr.

* India VIX increased by 6.31% to close at 21.89 touching an intraday high of 22.90

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen 17300, 17200, 17100, 17000 strike Calls and at 17100, 17000, 16900 strike Puts indicating market is likely to remain range bound during the day.

* Highest OI build-up is seen at 17500 strike Calls and 17000 strike Puts, to the tune of 10.57mn and 10.56mn 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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