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Summary

* Indian markets closed on negative note where selling was mainly seen in Automobiles, Realty, Pharmaceutical Sectors. Nifty Jan Futures closed at 23113.90 (down 149.80 points) at a premium of 21.70 pts to spot.

* FIIs were net sellers in Cash to the tune of 2758.49 Cr and were net buyers in index futures to the tune of 303.22 Cr.

* India VIX increased by 0.29% to close at 16.75 touching an intraday high of 17.31.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23500, 23400, 23300, 23200 strike Calls and at 22700, 22800, 22900, 23100 strike Puts indicating market is likely to remain under pressure in the near term.

* Highest OI build-up is seen at 23500 strike Calls and 23000 strike Puts, to the tune of 10.36mn and 12.67mn respectively.

Open Interest in Nifty Options:

Outlook on Nifty:

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

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