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Summary

* Indian markets closed on positive note where buying was mainly seen in Banking, Metals, Oil & Gas Sectors. Nifty Jan Futures closed at 23377.55 (up 111.65 points) at a premium of 65.75 pts to spot.

* FIIs were net sellers in Cash to the tune of 4341.95 Cr and were net sellers in index futures to the tune of 880.97 Cr.

* India VIX increased by 1.35% to close at 15.47 touching an intraday high of 15.57.

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 23500, 23400, 23300, 23200 strike Calls and at 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 6.50mn and 11.64mn 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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