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Summary

* Indian markets closed on negative note where selling was mainly seen in Banking, Automobiles, Oil & Gas Sectors. Nifty Dec Futures closed at 24417.65 (down 320.85 points) at a premium of 81.65 pts to spot.

* FIIs were net sellers in Cash to the tune of 6409.86 Cr and were net sellers in index futures to the tune of 1224.54 Cr.

* India VIX increased by 3.31% to close at 14.49 touching an intraday high of 14.98.

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 24500, 24600, 24700 strike Puts and addition at 24800, 24700, 24600, 24500 strike Calls indicating market is likely to remain negative in the near term.

* Highest OI build-up is seen at 25000 strike Calls and 24000 strike Puts, to the tune of 23.81mn and 18.57mn respectively.

Outlook on Nifty:

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

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