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Summary

* Indian markets closed on negative note where selling was mainly seen in Metals, Automobiles, Oil & Gas Sectors. Nifty Jan Futures closed at 23162.10 (down 338.55 points) at a premium of 76.15 pts to spot.

* FIIs were net sellers in Cash to the tune of 4892.84 Cr and were net sellers in index futures to the tune of 1419.04 Cr.

* India VIX increased by 7.25% to close at 16.00 touching an intraday high of 16.19

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23400, 23300, 23200, 23100 strike Calls and at 22800, 22900, 23000, 23100 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 14.37mn and 16.13mn respectively.

Open Interest in Nifty Options:

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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