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Summary

* Indian markets closed on a negative note where selling was mainly seen in Automobiles, IT, FMCG Sectors. Nifty June Futures closed at 24993.30 (down 118.40 points) at a premium of 21.40 pts to spot.

* FIIs were net sellers in Cash to the tune of 1874.38 Cr and were net sellers in index futures to the tune of 1174.36 Cr.

* India VIX increased by 2.74% to close at 14.05 touching an intraday high of 14.52.

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 25200, 25100, 25000, 24900 strike Calls and at 24500, 24600, 24900 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 25000 strike Puts, to the tune of 18.83mn and 19.20mn respectively.

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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