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Summary

* Indian markets closed on positive note where buying was mainly seen in Automobile, Pharmaceuticals, Oil & Gas Sectors. Nifty Mar Futures closed at 23379.85 (up 179.60 points) at a premium of 29.45 pts to spot.

* FIIs were net buyers in Cash to the tune of 7470.36 Cr and were net buyers in index futures to the tune of 2419.03 Cr.

* India VIX decreased by 0.21% to close at 12.58 touching an intraday high of 12.84.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23800, 23700, 23600 strike Calls 23200, 23300, 23400 strike Puts indicating market is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 24000 strike Calls and 23000 strike Puts, to the tune of 18.11mn and 19.87mn respectively.

Open Interest in Nifty Options:

Outlook on Nifty:

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

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