Index is likely to open on a flat note today and is likely to remain range bound during the day - Nirmal Bang Ltd
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Summary
* Indian markets closed on a flat note where buying was mainly seen in Automobile, FMCG, Pharma sectors. Nifty Jul Futures closed at 24379.40 (up 19.95 points) at a premium of 55.55 pts to spot.
* FIIs were net buyers in Cash to the tune of 1241.33 Cr and were net sellers in index futures to the tune of 496.24 Cr.
* India VIX decreased by 1.24% to close at 12.70 touching an intraday high of 12.99.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24300, 24200, 24100, 24000 strike Puts and at 24600, 24700, 24800 strike Calls indicating market is likely to remain range bound in near term.
* Highest OI build-up is seen at 25000 strike Calls and 24000 strike Puts, to the tune of 13.22mn and 13.49mn 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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