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Summary

* Indian markets closed on a positive note where buying was mainly seen in Banking, IT, Oil & Gas Sectors. Nifty Nov Futures closed at 23886.55 (up 537.85 points) at a discount of 20.70 pts to spot.

* FIIs were net sellers in Cash to the tune of 1278.37 Cr and were net buyers in index futures to the tune of 3018.47 Cr.

* India VIX increased by 0.67% to close at 16.10 touching an intraday high of 18.67.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23600, 23700, 23800, 23900 strike Puts and at 24200, 24100, 23900 strike Calls indicating market is likely to remain positive in the near term.

* Highest OI build-up is seen at 24000 strike Calls and 23500 strike Puts, to the tune of 11.39mn and 9.69mn 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 positive during the day.

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