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Summary

* Indian markets closed on a negative note where selling was mainly seen in IT, Metal, FMCG sectors. Nifty Jul Future closed at 19776.40 (down 193.80 points) at a premium of 31.40 pts to spot.

* FIIs were net sellers in Cash to the tune 1998.77 Cr and were net sellers in index futures to the tune of 1414.88 Cr.

* India VIX decreased by 2.54% to close at 11.49 touching an intraday high of 12.03

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen at 20000, 19900, 19800, 19700 strike Puts and at 20300, 20200, 20100, 20000 strike Calls indicating that the market is likely to be rangebound in the near term.

* Highest OI build-up is seen at 20000 strike Calls and 19800 strike Puts, to the tune of 14.51mn and 9.85mn respectively.

Outlook on Nifty:

Index is likely to open on a flat note today and is likely to remain rangebound during the day.

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