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Summary

* Indian markets closed on a negative note where selling was mainly seen in Metals, FMCG, Oil & Gas Sectors. Nifty Nov Futures closed at 23348.70 (down 186.10 points) at a discount of 1.20 pts to spot.

* FIIs were net sellers in Cash to the tune of 5320.68 Cr and were net sellers in index futures to the tune of 598.60 Cr.

* India VIX increased by 2.09% to close at 15.99 touching an intraday high of 16.78.

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 23000, 23100, 23300, 23400 strike Puts and at 23700, 23600, 23500 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 9.88mn and 12.26mn 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 range bound during the day.

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