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Summary

* Indian markets closed on a negative note where selling was mainly seen in Automobiles, Banking, FMCG Sectors. Nifty Nov Futures closed at 23959.60 (down 266.70 points) at a premium of 76.15 pts to spot.

* FIIs were net sellers in Cash to the tune of 3024.31 Cr and were net sellers in index futures to the tune of 734.24 Cr.

* India VIX increased by 2.24% to close at 14.59 touching an intraday high of 14.84.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23500, 23800, 23900 strike Puts and at 24200, 24100, 24000, 23900 strike Calls indicating market is likely to remain range bound in the near term.

* Highest OI build-up is seen at 25000 strike Calls and 24000 strike Puts, to the tune of 15.85mn and 12.32mn respectively.

Open Interest in Nifty Options:

Outlook on Nifty:

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

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