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Summary

* Indian markets closed on positive note where buying was mainly seen in FMCG Automobiles, IT Sectors. Nifty Jan Futures closed at 24282.65 (up 384.80 points) at a premium of 94.00 pts to spot.

* FIIs were net buyers in Cash to the tune of 1506.75 Cr and were net buyers in index futures to the tune of 1871.13 Cr.

* India VIX decreased by 5.30% to close at 13.74 touching an intraday high of 14.80.

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 24300, 24200, 24100, 24000 strike Calls and addition at 23900, 24000, 24100 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 24000 strike Puts, to the tune of 7.85mn and 12.98mn respectively.

Outlook on Nifty

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

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