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Market Review

* Indian markets closed on flat note where buying was mainly seen in Banking, Metals, Oil & Gas Sectors. Nifty Feb Futures closed at 22964.50 (down 8.10 points) at a premium of 31.60 pts to spot.

* FIIs were net sellers in Cash to the tune of 1881.30 Cr and were net buyers in index futures to the tune of 183.33 Cr.

* India VIX decreased by 1.56% to close at 15.42 touching an intraday high of 16.02.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23300, 23100, 23000, 22900 strike Calls and at 22800, 22900, 23000 strike Puts indicating market is likely to remain range bound in the near term.

* Highest OI build-up is seen at 23500 strike Calls and 22500 strike Puts, to the tune of 20.12mn and 14.89mn respectively.

Open Interest in Nifty Options:

Outlook on Nifty:

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

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