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Summary

* Indian markets closed on a negative note where selling was mainly seen in Technology, FMCG, Pharma sectors. Nifty Mar Future closed at 17403.40 (down 94.55 points) at a premium of 99.45 pts to spot.

* FIIs were net sellers in Cash to the tune of 4559.21 Cr and were net buyers in index futures to the tune of 4609.87 Cr.

* India VIX increased by 1.04% to close at 14.02 touching an intraday high of 14.57

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen at 17300, 17400, 17500, 17700 strike Calls and at 17300, 17200, 17100, 17000 strike Puts 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 15.80mn and 16.07mn respectively

Outlook on Nifty:

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

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