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 positive note where buying was mainly seen in Automobiles, IT, Oil & Gas sectors. Nifty Aug Futures closed at 24401.50 (up 264.95 points) at a premium of 34.00 pts to spot.
* FIIs were net buyers in Cash to the tune of 406.72 Cr and were net buyers in index futures to the tune of 460.98 Cr.
* India VIX decreased by 7.45% to close at 15.34 touching an intraday high of 16.60.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24100, 24200, 24300, 24400 strike Puts and at 24700, 24600, 24400 strike Calls indicating market is likely to remain range bound in the near term.
* Highest OI build-up is seen at 24500 strike Calls and 24000 strike Puts, to the tune of 7.50mn and 12.88mn 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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