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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Chemicals, Metals sectors. Nifty Sep Future closed at 16858.7 (down 159.95 points) at a premium of 0.10 pts to spot.

* FIIs were net sellers in Cash to the tune of 2772 Cr and were net sellers in index futures to the tune of 103.83 Cr.

* India VIX increased by 2.44% to close at 22.10 touching an intraday high of 22.36.

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen 17000, 16900, 16800 strike Calls and at 16800, 16700 strike Puts indicating market is likely to remain range bound during the day.

* Highest OI build-up is seen at 17000 strike Calls and 17000 strike Puts, to the tune of 13.10mn and 9.34mn respectively.

Outlook on Nifty:

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

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