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Market Summary:

* Indian markets closed on a positive note where buying was mainly seen in Cement, Banking, Auto sectors. Nifty Sep Future closed at 17628 (up 61.85 points) at a premium of 5.75 pts to spot.

* FIIs were net buyers in Cash to the tune of 312 Cr and were net buyers in index futures to the tune of 1173.33 Cr.

* India VIX increased by 0.59% to close at 19.94 touching an intraday high of 21.21.

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen 17600, 17500, 17400 strike Puts while liquidation was seen at 17700, 17800, 18000 strike Calls indicating positive outlook in the market during the day.

* Highest OI build-up is seen at 18000 strike Calls and 17000 strike Puts, to the tune of 11.17mn and 10.85mn respectively.

Outlook on Nifty:

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

Stock Ideas

* RELIANCE & INFY calls of strike 2600 & 1500 respectively were amongst the most active Calls whereas RELIANCE & INFY puts of strike 2500 & 1400 respectively were amongst most active Puts.

* ESCORTS & INDIACEM are likely to show good strength whereas CANFINHOME & BSOFT are likely to show weakness in today’s trading session.

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