Index is likely to open on a flat note today and is likely to remain range-bound during the day - Nirmal Bang
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Summary
* Indian markets closed on a flat note where selling was mainly seen in Banking, Finance, Technology sectors. Nifty Nov Future closed at 19806.50 (down 23.20 points) at a premium of 74.70 pts to spot.
* FIIs were net sellers in Cash to the tune of 477.76 Cr and were net sellers in index futures to the tune of 638.00 Cr.
* India VIX increased by 1.54% to close at 11.83 touching an intraday high of 12.09.
Open Interest in Nifty Options:
* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 19800, 19700, 19600, 19500 strike Puts and at 19800, 19900, 20000 strike Calls indicating market is likely to remain range-bound in the near term.
* Highest OI build-up is seen at 20000 strike Calls and 19000 strike Puts, to the tune of 11.59mn and 15.20mn respectively.
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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