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Summary

* Indian markets closed on a negative note where selling was mainly seen in Automobiles, Metals, Pharmaceuticals Sectors. Nifty May Futures closed at 24774.60 (down 201.80 points) at a premium of 90.70 pts to spot.

* FIIs were net sellers in Cash to the tune of 10,016.10 Cr and were net sellers in index futures to the tune of 2784.20 Cr.

* India VIX increased by 0.17% to close at 17.39 touching an intraday high of 17.66.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 25000, 24900, 24800, 24700 strike Calls and at 24500, 24600, 24700, 24800 strike Puts indicating market is likely to remain range bound in the near term.

* Highest OI build-up is seen at 25000 strike Calls and 24500 strike Puts, to the tune of 28.51mn and 14.69mn 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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