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Summary

* Indian markets closed on negative note where selling was mainly seen in Banking, IT, Financial Services Sectors. Nifty Jan Futures closed at 23267.20 (down 110.35 points) at a premium of 64.00 pts to spot.

* FIIs were net sellers in Cash to the tune of 3318.06 Cr and were net sellers in index futures to the tune of 2406.59 Cr.

* India VIX increased by 1.82% to close at 15.75 touching an intraday high of 16.38.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23500, 23400, 23300 strike Calls and at 22900, 23000, 23100, 23200 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 23000 strike Puts, to the tune of 8.82mn and 12.41mn respectively.

Open Interest in Nifty Options:

Outlook on Nifty:

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

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