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Summary

* Indian markets closed on a negative note where selling was mainly seen in Automobiles, Banking, Metals Sectors. Nifty Nov Futures closed at 23658.55 (down 301.05 points) at a premium of 99.50 pts to spot.

* FIIs were net sellers in Cash to the tune of 2502.58 Cr and were net sellers in index futures to the tune of 1885.89 Cr.

* India VIX increased by 5.03% to close at 15.44 touching an intraday high of 15.87.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23300, 23400, 23500 strike Puts and at 23900, 23800, 23700, 23600 strike Calls 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 17.52mn and 20.08mn respectively.

Open Interest in Nifty Options:

Outlook on Nifty:

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

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